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Asian stock markets slump on renewed uncertainty over Middle East conflicts
Asian equity markets face selling pressure on Friday as risks over the sustainability of the month-long fragile ceasefire between the United States (US) and Iran have increased, following renewed clashes between both nations around the Strait of Hormuz.Fxstreet
Fri, May 8
Japan intervened in FX market again during May holidays – Reuters
Citing a source familiar with the matter, Reuters reported on Friday that Japan’s officials intervened in the foreign exchange market during holidays in early May, after having conducted Japanese Yen-buying operations on April 30.
Fxstreet
Fri, May 8
US Trade Court rules Trump’s 10% global tariff is illegal — Reuters
A US trade court ruled against US President Donald Trump's latest 10% global tariffs, finding they were not justified under a 1970s trade law, however the court only blocked the levy on two small businesses and the state of Washington, Reuters reported on Thursday.
Fxstreet
Fri, May 8
USD/IDR: Overbought conditions and support levels – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong describe USD/IDR as easing from overbought territory as hopes of a US–Iran deal support sentiment. Bank Indonesia’s (BI) tighter rules on cash FX purchases and comments that the Rupiah (IDR) is undervalued back stabilization efforts.Fxstreet
Thu, May 7
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