investingLive Asia-Pacific FX news wrap: Trump extends ceasefire, markets mainly stable.Late in the US session, President Trump announced an indefinite extension of the Iran ceasefire as negotiations appear to have stalled, with neither Vice President Vance nor Iranian officials heading to Islamabad at this stage. Trump said the extension is intended to allow more time for diplomacy, though it remains unclear whether Iran or Israel will formally align with the move.

US dollar firms near weekly peak on Iran truce scepticism, strong data.The US dollar steadied near a one-week high in early Asian trade on Wednesday as investors raised fresh doubts about the durability of President Donald Trump's announcement that the Iran ceasefire would be extended indefinitely. That scepticism, combined with hawkish-leaning remarks from Federal Reserve chair nominee Kevin Warsh and a record jump in US retail sales, gave the safe-haven currency a broad base of support even as geopolitical hopes remained fragile.

US tightens grip on Iraq over Iran-linked groups, halt dollar flows over militia activity.Wall Street Journal (gated) report. The U.S. halted dollar shipments to Iraq and paused security support, increasing pressure on Baghdad to curb Iran-backed militias and highlighting Washington's financial leverage over Iraqi oil revenues.

Rupee set to weaken more; oil largely shrugs off Trump ceasefire extension.The Indian rupee is set to weaken further on Wednesday, pressured by renewed upward bias in oil prices despite U.S. President ​Donald Trump extending the ceasefire with Iran indefinitely.

Australia Westpac Leading Index Signals Below-Trend Growth Ahead, RBA Still Expected to Hike.Australia's Westpac Leading Index slipped from 0.05% to -0.13% in March, signaling a shift to below-trend growth for the remainder of 2026. The reading marks the first negative signal since August last year, indicating that momentum is softening, though not yet deteriorating sharply.

EUR/JPY Price Forecast: Remains above 187.00 as bullish bias prevails.EUR/JPY Price Forecast: Remains above 187.00 as bullish bias prevails

Japan's Exports Rise 11.7% in March, Trade Surplus Misses.Japan's trade balance recorded a surplus of JPY667.0B in March, falling short of expectations despite a solid rebound from February's JPY44.3B. The miss came as a sharp rise in imports offset another month of strong export growth, highlighting the growing impact of higher energy costs and Yen weakness.

UK inflation set to jump to 3.3% in March due to higher energy prices.UK inflation set to jump to 3.3% in March due to higher energy prices

Pound Sterling treads water above 1.3500 ahead UK CPI data.Pound Sterling treads water above 1.3500 ahead UK CPI data

Warsh's Forward Guidance and a Still Resilient Consumer.First on Kevin Warsh's Fed Chair hearing, there were a few things he said today that we will no doubt come back to over the coming weeks (and really months once he finally gets confirmed). But there is one thing that really stood out.

A New Rra for the Fed? Looking Back on Kevin Warsh's US Senate Hearing & Market Reactions.Today welcomed one of the final steps for Kevin Warsh to replace Jerome Powell as Chairman for the Federal Reserve – A process that initially was supposed to occur on May 15th.

Japan exports beat but rising import costs squeeze trade surplus.Japan exports rose 11.7% y/y in March, beating forecasts, but a smaller trade surplus and rising import costs highlight growing risks from energy prices and supply disruptions.

US Dollar Index steadies near 98.50 as US-Iran ceasefire extends.US Dollar Index steadies near 98.50 as US-Iran ceasefire extends

Australia Westpac Leading Index (MoM): -0.1% (March) vs previous -0.08%.Australia Westpac Leading Index (MoM): -0.1% (March) vs previous -0.08%

Australia's growth pulse cools, Leading Index dips below trend.Australia's Leading Index fell to –0.13% in March, slipping below trend for the first time since August, signalling softer growth ahead as higher rates and energy shocks weigh on activity.

Australian Dollar receives support after Trump extends ceasefire with Iran.Australian Dollar receives support after Trump extends ceasefire with Iran

Dollar at week high as markets raise doubts over Iran ceasefire.The dollar steadied in early Asian trade on Wednesday, as skepticism over U.S. ​President Donald Trump's announcement of an indefinite extension of a ceasefire with Iran lifted demand for the safe-haven ‌currency, pushing it to a one-week high.

WTI drifts lower to mid-$88.00s; bears seem hesitant amid US-Iran peace talks uncertainty.WTI drifts lower to mid-$88.00s; bears seem hesitant amid US-Iran peace talks uncertainty

Rupee falls 36 paise after RBI rolls back some forex curbs.The currency had closed Monday at 93.13/$. The rollback came after markets ended trading Monday.

Japan March trade data: Suplus shrinks. Imports and exports both higher than expected.Japan's trade balance recorded a surplus of ¥667.0B in March (expected ¥1,106B, prior ¥57.3B) imports increased 10.9% y/y (exp. 7.1%, prior 10.2%) exports rose 11.7% y/y (exp.

Japan Adjusted Merchandise Trade Balance: ¥90.7B (March) vs ¥-374.2B.Japan Adjusted Merchandise Trade Balance: ¥90.7B (March) vs ¥-374.2B

Japan Imports (YoY) registered at 10.9% above expectations (7.1%) in March.Japan Imports (YoY) registered at 10.9% above expectations (7.1%) in March

Japan Exports (YoY) above forecasts (11%) in March: Actual (11.7%).Japan Exports (YoY) above forecasts (11%) in March: Actual (11.7%)

Canada says USMCA review is a checkpoint, not a cliff.Canada's trade negotiator says USMCA review is a checkpoint, not a cliff, and warns not all US trade issues will be resolved by July 1, with Ottawa focused on protecting the deal while seeking tariff relief.

USD/JPY climbs as Yen lags risk-on reaction to Iran deadline blink.USD/JPY climbs as Yen lags risk-on reaction to Iran deadline blink

USD/TWD: Falling wedge hints at reversal risk – OCBC.USD/TWD: Falling wedge hints at reversal risk – OCBC

Japan: Stable system and defense export shift – BNY.Japan: Stable system and defense export shift – BNY

Crude Oil Price Forecast: Counter-Trend Bounce Meets Downside Risk.Crude oil rebounds from key support but faces resistance near the 20-day average, with broader bearish structure suggesting risk of renewed downside if recovery stalls.

Iran's Revolutionary Guard source says will not reopen Hormuz long as blockade continues.IRGC-linked Tasnim said the continuation of the naval blockade amounts to an ongoing state of conflict, adding that Iran will not reopen the Strait of Hormuz while the blockade remains in place, and warning it is prepared to break the blockade by force if required.

TRADING DAY Trump extends ceasefire deadline ... after market close.Oil and the dollar rose on Tuesday and U.S. stocks fell, as investors baulked at signals from Washington and Tehran that peace talks have not yet been confirmed. This comes a day before the U.S.-Iran ceasefire deadline, which President Donald Trump extended after markets closed.