US Central Command: carried out precision strikes in Iraq targeting Iran-backed groups planning attacks on US forces and Saudi oil facilities.

USD/JPY loses ground after registering minor gains in the previous day, trading around 163.70 during the Asian hours on Wednesday. The pair may regain ground as the Japanese Yen could come under pressure from rebounding oil prices.

DBS Group Research economist Radhika Rao analyzes Indonesia markets after Bank Indonesia Governor Perry Warjiyo’s unexpected resignation. She notes initial weakness in onshore assets as investors reassess implications for Rupiah stability and bonds.

Commerzbank analysts highlight that the Monetary Authority of Singapore (MAS) unexpectedly tightened policy for a second straight meeting, slightly increasing the Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER) slope while leaving the band’s centre and width unchanged.

Rabobank’s strategists Mauricio Une and Renan Alves note that tensions between the United States (US) and Iran have eased slightly with a pause in hostilities, but the outlook for global energy and markets remains highly uncertain.

BNY strategists John Velis and David Tam see elevated US supercore inflation as a key argument for further tightening but still favor a July hold.

Commerzbank’s Norman Liebke reports that Silver has fallen from USD 70 to USD 57.50 per troy ounce and that the bank has lowered its forecasts, now seeing USD 67 by year-end and USD 80 by end‑2027.

ING’s Padhraic Garvey expects the Federal Reserve (Fed) to leave rates unchanged at the upcoming Federal Open Market Committee (FOMC) meeting, with odds seen around 60:40 for no move.

US consumer sentiment loses some momentum in July, as the Conference Board’s Consumer Confidence Index recedes to 90.8 from June’s 92.2 (revised from 91.2).

TD Securities strategists argue that the Swiss Franc’s (CHF) underperformance since the February 2026 Iran shock reflects both low-yield carry dynamics and sensitivity to Gold prices.

Rabobank's Senior FX Strategist Jane Foley discusses British Pound (GBP) prospects around UK welfare reform, shifting voter polls and the upcoming Bank of England (BoE) decision. Foley highlights how PM Burnham’s fiscal choices and intra-Labour tensions could affect gilts and the Pound.

In an interview with Fox News, cited by Reuters, US President Donald Trump said that Pickaxe Mountain, an Iranian underground nuclear site, is not a big problem, adding that the United States (US) is now in a very strong position with Iran.

DBS Group Research economist Eugene Leow notes that investors remain cautious on upcoming FOMC decisions, with markets pricing a 34% chance of a July hike and nearly full odds for September.

Private-sector hiring in the US has further cooled in mid-July. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 15K jobs per week in the four weeks ending July 11.

Commerzbank’s Michael Pfister notes that reports of the Swiss National Bank (SNB) planning to keep rates unchanged until early 2028, if accurate, clash with still-ambitious market expectations for hikes by 2027.

ING’s Frantisek Taborsky notes Central and Eastern European (CEE) rate curves have repriced sharply, with more tightening now expected in Czech Republic and Poland and further easing in Hungary.

Commerzbank’s Moses Lim argues that Bank Indonesia Governor Perry Warjiyo’s surprise resignation, following earlier high-profile departures, heightens concerns over policy continuity and institutional credibility as the Indonesian Rupiah (IDR) trades near historic lows versus the US Dollar (USD).

DBS Group Research’s Philip Wee notes that the Dollar is trading on diverging themes versus Developed Market and Asia-ex Japan currencies, with Fed expectations central. Futures are pricing a 38% chance of a surprise rate hike at Fed Chairman Kevin Warsh’s second FOMC meeting.

HSBC’s Abhilash Narayan notes that the Monetary Authority of Singapore (MAS) unexpectedly tightened policy on 27 July 2026 by raising the Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER) slope to 1.25%.

ING’s Chris Turner highlights a Bloomberg source story suggesting the Swiss National Bank (SNB) may keep its policy rate at 0.00% until end-2027, aligning with ING’s own forecast.

BNY strategists John Velis and David Tam expect the Federal Reserve (Fed) to keep the federal funds rate unchanged at the upcoming July Federal Open Market Committee (FOMC) meeting, while stressing it is a close call.

Commerzbank’s Tatha Ghose highlights that Poland’s Law and Justice party has split, with Mateusz Morawiecki forming Development Plus and polling above the Sejm threshold.

USD/IDR extends gains for the second successive day, trading around 18,130 during the early European hours on Tuesday. The currency pair appreciates as the Indonesian Rupiah (IDR) faces pressure following the surprise resignation of Bank Indonesia (BI) Governor Perry Warjiyo on Monday.

UOB strategists interpret Monetary Authority of Singapore's (MAS) July 2026 MPS as a calibrated tightening via a modest increase in the Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER) slope to an estimated 1.25% per annum, smaller than April’s move.

Deutsche Bank strategists report that renewed concerns over Chinese competition and AI investment spending triggered a sharp selloff in global semiconductor stocks. Asian technology indices suffered heavy losses, while ASML and other chip-related shares declined in the United States and Europe.

According to a Gulf source, Oman presented to Iran proposal for a joint regional mechanism to manage the Strait of Hormuz, a vital passage to almost 20% of global energy supply, with voluntary fees.

Commerzbank strategist Charlie Lay, notes Brent Oil tumbled 8.7% to USD 88.36, reversing much of last week’s surge as US–Iran tensions eased and markets priced in de-escalation.

The Indian Rupee (INR) extends its winning streak against the US Dollar (USD) for the third trading day on Tuesday. The USD/INR pair falls to near 95.65 as a further decline in oil prices has strengthened the Indian currency.

Speaking at the Anika Foundation Fundraising Lunch in Sydney on Tuesday, Reserve Bank of Australia (RBA) Governor Michele Bullock said that the “key question is whether tightening already delivered is enough to slow inflation.”

In the Asian trading session on Tuesday, Japan Finance Minister (FM) Satsuki Katayama highlighted the need to communicate to market financial and Japanese Government Bonds (JGBs) markets regarding administration’s intentions towards the fiscal policy stance.