OCBC Bank: Trump's speech causes market concern that the situation will escalate further

MaticHoleFiller · 2026-04-10T08:12:10+00:00

OCBC Bank pointed out that Trump's speech led the market to expect that the war would not end quickly, which could cause oil prices to rise and the US dollar to strengthen. This situation may impact currencies such as the New Zealand dollar and the British pound, increasing concerns about inflation and growth, while the yen might perform well due to falling US Treasury yields.

MaticHoleFiller

2026-04-10 08:12:10

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OCBC Bank states that Trump’s speech has diminished hopes for a quick end to the war, prompting markets to prepare for further escalation of the situation in the short term, rising oil prices, and a strengthening dollar.

“Prolonged high oil prices shift inflation concerns toward growth worries, which could start to drag down risk-sensitive currencies such as the New Zealand dollar, British pound, and Swedish krona, as well as potentially impact risk-sensitive energy-exporting currencies like the Australian dollar and Norwegian krone,” said the bank’s foreign exchange strategist Moh Siong Sim.

“If U.S. Treasury yields retreat due to increased growth concerns, the yen could shift from underperforming to outperforming,” he added.

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