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investingLive Asia-Pacific FX news wrap: Oil jumps, dollar bid, RBNZ first hike in 3 years

Asia-Pacific markets were driven by geopolitical risk and central bank news. US strikes on Iran and rising fears around the Strait of Hormuz pushed crude oil nearly 3% higher and lifted the dollar to its strongest level since July 2 on safe-haven demand, while global yields rose on renewed inflation concerns. The Reserve Bank of New Zealand delivered its first rate hike in three years, raising the OCR by 25 bps and signaling more tightening may follow, which supported the NZD. Equity markets were mixed: Japan and Korea were volatile, while Shanghai and Hong Kong outperformed. US equity futures recovered from early weakness to near flat. The article frames a market environment dominated by energy shock risks, firmer USD demand, and shifting rate expectations.

Category

USD/JPY

Sentiment

Mixed

Event

Market commentary

Reading time

1 min