Global stocks experienced tight trading ranges on Tuesday amid heightened concerns about U.S. tariffs and their impact on economic growth, leading to a fluctuating dollar performance against Asian currencies.
In Asia, currency markets saw significant activity, with the Taiwan dollar’s recent surge prompting speculation about a regional currency revaluation aimed at securing U.S. trade concessions. Meanwhile, Hong Kong’s central bank intervened heavily to prevent currency appreciation beyond its dollar peg.
Attention remains on possible U.S.-China trade negotiations, with investor sentiment swayed by tariff-related headlines. Economic indicators from the U.S. portrayed robust service sector growth, although inflation pressures loom due to tariff effects, while traders await Federal Reserve guidance on interest rates amid these uncertainties.
(With inputs from agencies.)
