Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Asian Stocks Mixed as Korean Chipmakers Rally 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
German Inflation Accelerates to 2.9% in August 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
U.S. Stock Futures Steady as Oil Tops $100 Ahead of Inflation Data 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
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Dollar Maintains Weekly Gains
Asian currencies weakened on Friday, weighed down by a stronger U.S. dollar. The dollar's rise is driven by expectations of slower interest rate cuts from the Federal Reserve, setting the stage for a fourth consecutive week of gains.
Japanese Yen Steadies Amid Election and Intervention Concerns
The Japanese yen hovered near a three-month low at ¥152 against the dollar. Traders remain cautious ahead of Japan's general election this weekend. Polls suggest the ruling Liberal Democratic Party may struggle to secure a majority, which could limit Prime Minister Shigeru Ishiba's ability to enact further economic reforms.
Japan’s government has also issued warnings about possible currency intervention due to the yen’s recent weakness, which has contributed to market volatility.
Dollar's Strength Pressures Asian Currencies
The dollar index remained strong, gaining about 0.6% this week. In addition to Federal Reserve policy, the dollar is supported by speculation that Donald Trump may win the 2024 U.S. presidential election, which could lead to inflationary policies and higher long-term interest rates.
This scenario has weighed on most Asian currencies, with the Chinese yuan rising by 0.1% and the South Korean won surging by 0.7%. The Australian dollar fell by 0.3%, while the Indian rupee remained near record lows.
