Asian currencies steadied against the greenback on Wednesday as markets digested fresh U.S.-Iran chatter. The dollar slipped 0.2% to 159.18 yen, while the won held at 1,478.60 and the Singapore dollar remained flat at 1.2732. Traders kept a wary eye on geopolitical risk after weekend talks in Pakistan ended without a deal for the region.

President Trump said the “right people” in Tehran still favor a U.S.-Iran pact, even though no side has pledged a new round of talks. CBA’s Carol Kong warned that a U.S. blockade of the Strait of Hormuz could test the fragile cease‑fire, and a collapse would likely push the dollar higher in global markets today.

The modest yen gain kept the broader Asian basket from sliding, as investors weighed the potential for renewed sanctions against Iran. A weaker dollar typically lifts export‑driven currencies, but the uncertainty around Hormuz kept risk‑aversion high. Consequently, the won and Singapore dollar showed little movement despite the dollar’s slight dip throughout the session overall.

With the cease‑fire holding, the dollar’s recent retreat may be short‑lived; any escalation in the Strait could quickly reverse the modest yen appreciation. Market participants will monitor official statements from Washington and Tehran for cues. For now, Asian currencies remain on a narrow trading range, reflecting a balance between geopolitical risk and dollar weakness today.