Forex
Asian Currencies Steady Amid Oil Price Surge and Regional Tensions
Asian currencies remained relatively stable on Thursday as investors maintained a cautious tone due to rising oil prices and renewed Middle East tensions.
The Japanese yen, however, continued its upward trajectory, holding near recent highs after strengthening to 152.89 on Tuesday, its strongest level since February.
Oil prices climbed as high as $101.94 a barrel before easing back, with Brent crude remaining above the $100 mark.
The U.S. dollar index fell marginally to 98.76, while the yen's gains were attributed to expectations of faster BOJ tightening, possible repatriation of Japanese funds, and the unwinding of carry trades.