Cautiously

• Asian foreign exchange markets are trading cautiously as a softening U.S. dollar balances ongoing geopolitical risks. • The Bank of Korea implemented a widely expected 25 basis-point interest-rate hike to 2.75%, though the USD/KRW pair still fell approximately 0.4% to around 1,479 won. • Despite the rate hike, the South Korean won faces limited support due to persistent foreign selling in technology shares and regional instability.

• The FTSE 100 index dropped 1.7% today, driven primarily by a sharp decline in AstraZeneca shares. • Market losses were further exacerbated by rising oil prices and escalating geopolitical tensions in the Middle East. • While the blue-chip index fell, the FTSE 250 and FTSE All-Share indices opened with more caution.

• As the United States approaches its 250th anniversary, a group of swing voters shared their perspectives on the current state of the nation. • Participants in NPR's "Swing Shift" project expressed a wide spectrum of emotions, ranging from "uncertain" and "concerned" to "excited" and "cautiously optimistic." • The project tracks a dozen key voters to gauge the political temperature of those likely to influence the outcomes of the 2026 and 2028 elections.