USD/JPY fell 0.62% on Tuesday, its second consecutive decline, closing around 158.70 after an early push toward 160.00 was firmly rejected.
Silver prices rebounded, surging sharply more than 7% as Oil prices took a hit, which pushed the Greenback lower due to its close positive correlation. Also, falling US Treasury yields are driving the white metal higher, up to $75.00 by March's end.
AUD/USD rallied 0.69% on Tuesday, snapping a five-day losing streak to close around 0.6900 after bouncing sharply from a session low near 0.6830.
OCBC strategists Sim Moh Siong and Christopher Wong note USD/TWD has risen nearly 2.5% this month but remains more contained than other Asian FX such as KRW, THB and MYR.
NZD/USD surged and is now trading near the 0.5750 price region, starting the Asian session with a bullish bias on Wednesday.
United States API Weekly Crude Oil Stock registered at 10.263M above expectations (-1.3M) in March 27
MUFG’s Senior Currency Analyst Michael Wan highlights that higher Oil prices and potential energy shortages are increasingly weighing on Asian FX.
UOB reports that the central bank of Malaysia, Bank Negara Malaysia (BNM) expects 2026 headline inflation to average 1.5%-2.5%, with core inflation at 1.8%-2.3%.
The USD/CHF pair retreats on Tuesday after hitting a year-to-date (YTD) high at 0.8042, hovering below the 0.8000 figure amid growing speculation of a de-escalation of the Middle East conflict. At the time of writing, the pair trades at 0.7997, up 0.01%.
The US Dollar Index (DXY) fell to near the 100.00 region on Tuesday, holding a weak tone as the US Dollar (USD) lost its safe-haven demand amid growing hopes of a de-escalation of the war in the Middle East.
Commerzbank’s Dr. Henry Hao notes that China’s March PMIs show manufacturing back in expansion, supported by restocking, government spending and resilient exports, while non-manufacturing also edges above 50.
Standard Chartered’s Senior Economist Tommy Wu revises Taiwan’s 2026 macro outlook as higher Oil and LNG prices from Middle East tensions lift import costs. The bank now sees CPI inflation at 2.1% instead of 1.5%, and trims GDP growth to 7.6% from 8.0%.
