Asian currencies slipped against the dollar early in the session as traders eye the second day of the Trump‑Xi summit in Beijing. UOB’s Global Economics & Markets Research team flagged the event as the prevailing geopolitical risk. Investors focus on any formal announcements before President Trump departs in the afternoon as markets close in the afternoon.

The dollar strengthened, climbing 0.1% to 158.47 yen, 0.4% to 1,498.96 Korean won, and 0.2% to 61.664 Philippine peso on LSEG data. Traders weigh the possibility that the summit could reshape trade dynamics or signal a shift in U.S.–China relations, which would ripple through commodity and currency markets for investors.

With the summit still under debate, the currency market remains sensitive to any diplomatic cues. The current dollar gains underscore a broader trend of Asian currencies retreating against the U.S. dollar, suggesting that geopolitical uncertainty continues to weigh on regional economies today and policymakers monitor any shifts closely for strategic positioning.