In a surprise decision

🔸 🇺🇸 U.S. Tariff Announcements Impacting Markets
President Trump has announced plans to impose 25% tariffs on imports from Japan and South Korea, effective August 1. This move is part of ongoing trade tensions and has led to increased market volatility.

The Japanese yen has weakened significantly, reaching multi-week lows against the U.S. dollar, euro, and British pound.

The South Korean won experienced a slight rebound, gaining 0.7% after previous losses.

🇦🇺 Reserve Bank of Australia (RBA) Holds Interest Rates
In a surprise decision, the RBA kept its cash rate steady at 3.85%, defying expectations of a rate cut.

The Australian dollar responded positively, surging to $0.6541, as markets adjusted to the unexpected hold.

💱 Currency Movements
The U.S. dollar has strengthened, particularly against the Japanese yen, amid the announced tariffs and global trade uncertainties.

The euro and British pound have seen modest gains, while the Chinese yuan briefly dipped before stabilizing with support from state-owned banks.

📅 Upcoming Economic Events
The NFIB Business Optimism Index for June is scheduled for release in the U.S., which may provide further insights into economic sentiment.

Investors are closely watching for updates on trade negotiations and potential responses from affected countries.