The Japanese yen held steady after authorities intervened to strengthen it, easing near-term volatility. Traders are now looking for additional actions and whether the United States will get involved. Meanwhile, trade tensions continue to simmer after President Trump flagged a development related to ships in the Strait of Hormuz. The Australian dollar and euro edged up, while bitcoin dipped slightly.
The dollar held firm after hawkish comments from Federal Reserve officials lifted bond yields and reduced expectations for rate cuts this year. At the same time, the Japanese yen slid past 160 per dollar, raising fears of possible intervention. Traders are also watching geopolitical tensions and oil price pressures that could further complicate currency moves.
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