Taiwan's foreign exchange reserves fell to $597.15bn in June from $605.07bn the previous month, a decline of $7.92bn or 1.3% MoM.

FCA executive director Sheldon Mills said regulators are in an "arms race" to keep pace with AI adoption in financial services and need broader powers, the FT reported. He urged UK regulators to assess whether large language models such as ChatGPT, Claude and Gemini should be brought within regulatory rules. Mills said regulators must themselves adopt AI to match the technology’s "speed, tempo and scale" and to "monitor, detect and respond to risks." A report by Mills warned that heavy personalization can improve product fit but may also produce algorithmic bias, opaque pricing and targeted manipulation. It recommends the FCA conduct a review within three to six months of risks from firms providing financial services outside the regulatory perimeter and potential consumer harm from rising use of AI in personal finance.

HSBC chief economist Paul Bloxham said Australian house prices pulled back in June but that is just the start. He cited major recent changes to taxation of investment properties and three Reserve Bank of Australia rate hikes as having rapidly weakened investor demand. Bloxham forecasts national house prices could fall up to 8% from now through the end of next year and said June’s pace of decline implies downside risk. He added: "Buckle up."