Asian stock markets are catching bids as the dollar extends its recent weakness. Behind the move? Fresh developments surrounding a Federal Reserve subpoena that's reshaping expectations around monetary policy and interest rate trajectories.

When the greenback loses steam, it typically creates tailwinds for risk assets—and that's exactly what we're seeing play out across the region. Traders are reassessing where rate hikes might be headed, which in turn fuels appetite for equities and other growth-oriented investments.

The correlation here matters. A softer dollar environment tends to benefit emerging markets and commodity-linked economies disproportionately. For crypto investors watching macro flows, this shift in currency dynamics and policy uncertainty is worth monitoring closely. It signals broader appetite for alternative assets when traditional guardrails start loosening.