Asian equities edge up, dollar slides as US Fed Reserve subpoenaedHONG KONG, Jan 12, 2026 (BSS/AFP) - Asian equities posted gains Monday while the dollar dipped as investors digested news that the US Justice Department subpoenaed the Federal Reserve, raising fears over US central bank independence. "The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President," Powell said in a statement late Sunday. Powell said the bank received grand jury subpoenas on Friday related to his Senate testimony in June, which had been about a major renovation project of Federal Reserve office buildings. Hong Kong, Shanghai, Seoul and Taipei climbed, tracking Wall Street's record close Friday. He also said that the Islamic republic's leadership had called seeking "to negotiate" and that a meeting was being set up.
