WASHINGTON: In early Asian trading, the dollar dropped to 143.27 yen—its weakest since May 7—highlighting mounting concerns over US economic stability and bond market demand. This comes as global investors pivot away from US assets in favour of safer or more promising alternatives.
In a notable development, the South Korean won rose to its highest point since November 4, reaching 1,368.90 against the dollar on Wednesday, buoyed by Washington’s push for Seoul to strengthen the currency. However, the won slightly retreated to 1,377.00 in today’s session.
European currencies also saw movement, with the euro climbing to $1.1330—marking a 0.4% rise on Wednesday and a third straight day of gains. The British pound remained steady at $1.3426, while the Swiss franc nudged up 0.1% to 0.8245.
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Cryptocurrency markets also echoed this shift. Bitcoin soared 1.6% in recent trading to hit $110,049.82, after smashing through a new all-time high of $110,636.58—reflecting growing investor appetite for decentralized assets in uncertain times.
