U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
Tech Stocks Lift S&P 500 as Fed Rate-Cut Expectations Rise 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
Japan’s Service Sector Sustains Growth Momentum in November 
U.S. Cyber Monday Online Sales Surge Past $9.1 Billion as Holiday Shopping Momentum Builds 
Dollar Slips as Weak U.S. Manufacturing Data Increases Pressure for Fed Rate Cuts 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
The U.S. dollar opened December on weaker footing as global investors prepared for a pivotal month marked by a potential final Federal Reserve rate cut of the year and growing expectations for a dovish successor to Fed Chair Jerome Powell. Currency markets in Asia were particularly focused on Bank of Japan (BOJ) Governor Kazuo Ueda’s upcoming speech, which could offer clues on whether Japan is ready to shift toward a rate hike to help stabilise the yen.
Following last week’s hours-long outage at CME Group that disrupted global trading across major asset classes, foreign exchange markets were back in full action on Monday. Even so, price movements were limited as traders awaited key data releases and policy signals expected throughout December.
The Japanese yen extended earlier gains after fresh data showed corporate investment rose 2.9% in the July–September period compared to the previous year. The figure suggested Japan’s economy is managing the impact of U.S. tariffs better than expected. The yen strengthened 0.2% to 155.84 per dollar, moving away from last month’s 10-month low of 157.90—a level that had prompted speculation of possible intervention. Japan’s Finance Minister Satsuki Katayama reiterated concerns over recent “erratic” currency swings, saying they were not aligned with economic fundamentals.
Analysts expect Ueda may use his speech to guide markets toward a potential December rate hike, especially as officials have increasingly expressed concern about rapid yen depreciation. Meanwhile, the euro edged up to $1.1600, and the British pound held steady at $1.3240 after gaining broadly last week following the release of the UK’s long-awaited budget.
Market attention remained fixed on U.S. monetary policy, with traders pricing in an 87% chance of a 25-basis-point Fed rate cut next week. Reports naming White House economic adviser Kevin Hassett as the leading candidate for the next Fed chair also weighed on the dollar, which slipped to 99.42 against a basket of currencies.
In the crypto market, bitcoin fell 3.6% to $87,881.82, while ether dropped 5% to $2,871.59 as broader risk sentiment remained cautious.
