South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
The U.S. dollar remained close to recent highs on Tuesday as global markets braced for a critical deadline set by President Donald Trump, demanding Iran reopen the Strait of Hormuz to international shipping or face military strikes on its infrastructure. The standoff has rattled financial markets worldwide, sending energy prices surging and driving investors toward the dollar as a reliable safe-haven currency.
The ongoing Middle East conflict, combined with the potential closure of the strategically vital Persian Gulf chokepoint, has reinforced bullish sentiment around the greenback — particularly across Asian markets. Despite cautious optimism over the Easter holiday period that a diplomatic breakthrough might ease tensions, few traders were willing to sell dollars ahead of Trump's 8 p.m. Eastern Time deadline. The president warned Monday that Iran could be neutralized "in one night," pledging to target Iranian power plants and bridges if demands were not met.
Currency markets reflected the uncertainty. The Japanese yen weakened to 159.79 per dollar, approaching multi-decade lows last seen during 2024 interventions. The euro traded at $1.1533 and the British pound at $1.3227, both hovering near multi-month lows recorded in late March. Meanwhile, the Australian and New Zealand dollars recovered slightly from sharp recent losses but remained soft at $0.6917 and $0.57 respectively. The South Korean won stayed weak beyond the 1,500 level — a threshold only breached during the crises of 1997 and 2009 — while Indonesia's rupiah fell to a record low.
Iran and Israel exchanged strikes throughout Tuesday, with Israel confirming a wave of airstrikes on Iranian government infrastructure while missile defenses activated across Israel and Saudi Arabia. Analysts at Commonwealth Bank of Australia cautioned that even if the U.S. steps back from the conflict, the Strait of Hormuz may remain closed, continuing to pressure global trade and currency markets.
