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The U.S. dollar faced struggles on Tuesday, marked by impatient investors awaiting progress on expected U.S. trade deals. Asian currencies took a breather after an unprecedented two-day rise, emphasizing the dollar's fragility. The yen saw the dollar drop 0.57% to 142.87, while the British pound gained 0.56% to $1.3371.Jane Foley, head of FX strategy at Rabobank, noted a decline in last week's optimism linked to potential trade deals. Market participants are growing concerned about company warnings regarding economic damage from tariffs. Recent investor optimism about potential U.S. deals slashing...

Asian currencies turbocharged by dollar weakness are attaining rarely seen superlatives and triggering central bank intervention to curb excessive gains.The Hong Kong Monetary Authority on Friday sold a record amount of local dollars to prevent its advance and protect the currency’s 42-year-old peg to the greenback. Taiwan’s central bank also intervened as its currency soared the most since 1988. The offshore yuan rallied to its strongest since November.The volatility shows how an exodus from the world’s reserve currency can ripple through financial markets, as President Donald Trump’s shifting tariff policies...

The yen advanced past the psychological level of 140 against the dollar as investors sought alternatives to the greenback amid increasing risks for US assets.With the independence of the Federal Reserve under threat, heightened unease from tariffs and a looming meeting between the finance chiefs of Japan and the US, the yen broke through resistance to appreciate as much as 0.7% to 139.90 per dollar. That was its strongest level since September and made it the best performer among Group-of-10 currencies on Tuesday. President Donald Trump’s trade war has boosted...