OCBC strategists Sim Moh Siong and Christopher Wong note USD/KRW traded higher on heightened Middle East tensions and Oil gains, with Korean Won pressured as a higher-beta, net Oil importer currency.

West Texas Intermediate (WTI) US Oil declines on Tuesday, with the barrel trading around $89.10 at the time of writing, down 3.93% on the day.

Commerzbank’s Charlie Lay and Moses Lim note that Monetary Authority of Singapore (MAS) has tightened policy by slightly increasing the pace of Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER) appreciation, focusing on inflation rather than growth.

The Dow Jones Industrial Average (DJIA) gained around 300 points, or 0.6%, trading near 48,500. The S&P 500 rose 1.1% while the Nasdaq Composite jumped 1.8%, led by a broad rally in technology names.

The USD/JPY pair is trading with a bearish bias near the 158.90 region on Tuesday, extending recent losses as the US Dollar (USD) continues to soften amid improving risk sentiment on renewed hopes of United States (US)-Iran negotiations.

MUFG’s Senior Currency Analyst Michael Wan highlights that Trump has begun a US naval blockade of the Strait of Hormuz, but risk assets have rebounded as talks between the US and Iran continue.

Christine Lagarde, President of the European Central Bank (ECB), spoke to Bloomberg TV on Tuesday. She claimed that they need to keep an eye on the medium term while checking data.

USD/CAD trims some of its earlier losses on Tuesday as easing Oil prices on renewed US-Iran talks optimism weigh on the commodity-linked Canadian Dollar (CAD), helping the pair recover from intraday lows even as improving risk sentiment keeps the US Dollar (USD) under broad pressure.

The US Treasury Secretary Scott Bessent crossed the wires earlier, stating that he’s “quite confident” that core prices would continue to edge lower in the US despite the Iran war, and that he’s pressing the Federal Reserve to cut rates.

Bittensor (TAO) is in an active downward trend, down nearly 3% to trade around $252 at the time of writing on Tuesday. Sentiment surrounding the crypto Artificial Intelligence (AI) market has remained significantly depressed since last week, following the exit of subnet developer Covenant AI.

United States 52-Week Bill Auction up to 3.56% from previous 3.485%

Silver (XAG/USD) surges on Tuesday, trading around $78.80 at the time of writing, up 4.16% on the day as strong buying interest pushed Silver to a daily high of $79.32.

The Pound Sterling advances as traders remain optimistic about a possible resolution to the US-Iran conflict. At the same time, the US Dollar weakens amid a hot US inflation report that missed forecasts for a higher print. The GBP/USD trades near 1.3590, gaining 0.61%.

Scotiabank notes the Pound is up 0.3% versus the Dollar, trading at pre‑conflict highs as investors welcome strong demand for UK debt. Domestic data risk is light before trade and industrial production, while BoE speakers, including Gov. Bailey, pose event risk.

Megan Greene, external member of the Bank of England's (BoE) Monetary Policy Committee (MPC), Reuters reported on Tuesday that the United Kingdom’s (UK) economic activity was weak before the Iran war but that at the same time, the war impact is inflationary.

Kevin Hassett, Senior Adviser for the White House told Fox Business on Tuesday that they expect a rapid reduction in energy prices once the Strait of Hormuz is reopened.

Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago, told AP at the Semafor World Economy conference on Tuesday that the longer the Middle East concerns go, the cut could be pushed out of 2026.

The Euro (EUR) edges higher against the US Dollar (USD) on Tuesday, with EUR/USD extending gains for a seventh consecutive day and returning to levels last seen when the US-Iran conflict began. At the time of writing, the pair is trading around 1.1800, up roughly 0.37% on the day.

ING’s Chief Economist for Greater China, Lynn Song, notes that China’s March trade surplus dropped to a 13‑month low as exports slowed and imports surged, especially in tech-related categories.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is making modest gains versus a softer US Dollar (USD), though it lags core majors and weakens on crosses. They estimate USD/CAD equilibrium at 1.3527, with undervaluation correcting mainly via Dollar softness.

Rabobank strategists underline that the Monetary Authority of Singapore (MAS) has tightened policy via the exchange rate despite weak GDP, reacting to potential core inflation from the energy shock.

ING’s Frantisek Taborsky expects March inflation in Romania to stay above 10% in coming months, peaking near 11%, keeping the National Bank of Romania on hold with no rate cuts in 2026.

GBP/JPY advances on Tuesday, extending gains for a seventh consecutive day as elevated Oil prices continue to weigh on the Japanese Yen (JPY), while improving market sentiment, driven by renewed hopes of US-Iran negotiations, supports the British Pound (GBP).

MUFG’s Senior Currency Analyst Lee Hardman notes that the US Dollar index has quickly surrendered its early-week rebound, returning close to pre‑conflict levels as optimism grows over further US–Iran talks and Middle East deescalation.

Ripple (XRP) hovers around $1.37 at the time of writing on Tuesday, with its upside largely capped below the $1.40 supply threshold.

BNP Paribas’ Stéphane ALBY assesses how Gulf economies are absorbing the conflict-related shock. He notes that Oil exports via the Strait of Hormuz have been severely disrupted, with Bahrain, Kuwait, and Qatar hit hardest, while Saudi Arabia and the UAE partially benefit from higher Oil prices.

United States Redbook Index (YoY) declined to 7% in April 10 from previous 7.6%