Dollar, US bonds under pressure amid global tensions and Trump tax bill

A man walks past electronic boards showing the Japanese yen's rate against the US dollar (L) and the Nikkei Stock Average on the Tokyo Stock Exchange (R) along a street in central Tokyo on May 19, 2025. [AFP]

A bond sell-off and declining dollar signalled investor unease Wednesday as Washington lawmakers contemplated a tax-cut bill that could push up the US deficit.

At the same time, fresh tensions focused on a report that Israel was planning a strike on Iranian nuclear sites drove up crude prices, while lingering US-China trade tensions hit stock markets.