Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
The U.S. dollar held firm on Thursday, poised for its strongest weekly performance in nearly a year, bolstered by a weakening yen and growing global political uncertainty. Market sentiment has been rattled by leadership shifts in Japan, political turmoil in France, and an ongoing U.S. government shutdown, prompting investors to seek refuge in safe-haven assets like gold.
The Japanese yen faced intense pressure after conservative leader Sanae Takaichi was appointed head of Japan’s Liberal Democratic Party, paving the way for her to become the country’s first female prime minister. Expectations of continued fiscal stimulus and loose monetary policy have fueled the yen’s decline. The currency was last seen at 152.49 per dollar, recovering slightly from an eight-month low of 153. It remains down over 3% for the week, marking its worst performance since September 2024.
“The dollar/yen rally has been relentless,” noted Carol Kong, currency strategist at the Commonwealth Bank of Australia. “If Takaichi maintains her dovish stance and the BOJ signals no near-term rate hikes, the yen could weaken further after the October policy meeting.”
In Europe, the euro traded modestly higher at $1.1639, halting a three-day losing streak but still down 0.9% for the week amid France’s political crisis. President Emmanuel Macron is expected to name a new prime minister within days following Sebastien Lecornu’s resignation.
Elsewhere, sterling edged up to $1.3413, and the Australian dollar rose to $0.6594, while the New Zealand dollar gained 0.1% to $0.5792 after a sharp fall triggered by a surprise 50 basis point rate cut by the Reserve Bank of New Zealand.
The Federal Reserve’s September meeting minutes revealed officials’ growing concern over labor market risks but ongoing caution about inflation. Despite the uncertainty, investors continue to expect around 44 basis points of rate cuts by December, keeping the dollar index steady at 98.77.
