Asian currencies held steady against the dollar in early trade, but risk‑off sentiment from a tech‑stock sell‑off kept the greenback in demand. CBA’s Global Economic & Markets Research flagged renewed worries over AI stock valuations as the trigger, noting the safe‑haven dollar pushed the won to 1,533.70 per unit. The broader market rally stayed muted as investors reassessed tech valuations.

Meanwhile the yen barely budged, hovering at 161.55 per dollar, and the Australian dollar lingered near US$0.6917. Stone X analyst Matt Simpson said the Aussie‑dollar’s daily chart shows a clear downtrend, with Tuesday’s close near the session low. Yield differentials between Australia and the U.S. remain tilted against the pair, keeping pressure on the currency. This environment limits any short‑term rebound.

Investors eye the March trough just above US$0.6800 as a realistic target for the Australian dollar if the downtrend persists. A modest 0.1% rise in the dollar against the won underscores broader safe‑haven flows, while the yen’s flat stance suggests limited upside for risk‑averse bets. Currency traders will watch yield spreads for the next cue. Exporters hope the yen stays flat, avoiding cost pressures.