Asian currencies consolidate; or under pressure due to renewed tensions in the Middle East.

The Asian currency against the US dollar was stable in early trading but may come under pressure due to the renewed tension in the Middle East. Carol Kong of the Commonwealth Bank of Australia stated in a research report: "The US and Iran clashed as the US assisted two ships flying the American flag through the Strait of Hormuz." The economist and currency strategist said, "Reports from the UAE indicate that Iran has launched cruise missiles at the country and conducted drone attacks." Kong added that renewed military actions in the Middle East have brought doubt to the fragile US-Iran ceasefire agreement, which could bring upward pressure on the US dollar. Data from the London Stock Exchange Group shows the US dollar holding steady against the Japanese yen at 157.20 yen, and against the South Korean won at 1,475.67 won.