The British pound traded with little change against the U.S. dollar as a rise in U.S. Treasury yields provided support for the greenback. Investors are now looking ahead to the Jackson Hole economic symposium for fresh central bank policy signals.
Global spending via stablecoin-linked payment cards is projected to quadruple to $50 billion annually by 2028, according to payments firm RedotPay, citing record monthly volumes and growing adoption in emerging markets.
Sovereign bond yields steadied on Tuesday, halting a recent surge, as a pullback in oil prices and reports of a potential shift in U.S. Treasury funding strategy eased pressure on global debt markets.
Japan's finance ministry anticipates debt-servicing costs will surge by 17.1% to a record 36.64 trillion yen in the next fiscal year, driven by rising interest rates, according to a report from Kyodo News.
Most Asian currencies weakened against a slightly stronger U.S. dollar, which found support from new sanctions on Iran and elevated Treasury yields. Investors are now awaiting key U.S. inflation data for further direction.
The Canadian dollar fell sharply against its U.S. counterpart after Washington threatened to impose steep new tariffs on Canadian autos and steel, unwinding the currency's recent gains and escalating trade tensions.
Sovereign debt markets paused their recent selloff on Monday as traders braced for new U.S. sanctions against Iran and awaited monetary policy guidance from the Federal Reserve's Jackson Hole symposium.
The British pound slipped against the U.S. dollar on Monday as investor attention turned to upcoming U.S. policy signals, including new sanctions on Iran and a pivotal speech from a Federal Reserve official.
The U.S. dollar remained near its lowest level since mid-May as the Treasury's plans to increase bond buybacks were countered by investor concerns over U.S. fiscal health and rising geopolitical tensions, leaving most Asian currencies in a narrow trading range.
