Asian currencies held steady against the dollar on Thursday as traders digested news of an Iran-Israel ceasefire. Both sides ceased fire after U.S. President Trump urged a halt, calming risk sentiment. The yen hovered at 160.16 per dollar, the ringgit stayed flat at 4.0690, while the won edged 0.4% higher to 1,532.48 won.

NAB senior FX strategist Rodrigo Catril said the lull puts markets in “partial recovery mode,” while RBC Capital Markets’ Abbas Keshvani urged a “buy‑on‑dips” stance if yen weakness stems from intervention. He noted that spot rates have returned to 160 yen just five weeks after authorities stepped in, and that energy drag and cautious asset‑manager rotation keep pressure on the Japanese currency.

With the dollar little moved—flat at 160.13 yen and unchanged at 4.0690 ringgit—traders will watch any further geopolitical shifts for clues on risk appetite. A sustained ceasefire could revive demand for higher‑yielding Asian assets, while persistent yen weakness may prompt short‑term positioning around intervention thresholds. The current equilibrium suggests modest upside for risk‑on strategies.

Investors should monitor central bank signals in Japan and Korea, as policy moves could amplify currency swings ahead of earnings season. Any surprise rate adjustment or guidance shift may trigger rapid rebalancing, while continued diplomatic stability could keep capital flowing into the region’s equity and bond markets.