Jefferies Names 6 Top India Stock Picks Across Key Sectors 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
Yen Rebounds as BOJ Rate Hike Bets Rise 
Singapore Straits Times Index Hits Record High as Banks, Property Stocks Rally 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
OPEC+ Expected to Hold October Oil Output Steady 
China Expands Influence in Global Gold Market 
UK House Prices Fall for First Time Since 2023 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
U.S. Payrolls Seen Rebounding in August as Labor Market Stays Soft 
Turkey Targets 5% Economic Growth by 2029 
Iran’s Hormuz Oil Pressure Fades as Gulf Crude Flows Continue 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
Gold Holds Near $4,400 as Fed Hike Bets Rise 
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The Japanese yen strengthened modestly against the U.S. dollar on Monday, as traders largely overlooked weaker-than-expected Japan GDP data while reassessing the outlook for Federal Reserve interest rates.
The yen gained 0.2% to around 159.055 per dollar, putting it on course for a second consecutive session of modest gains. The currency nevertheless remained within its recent trading range after data showed Japan’s economy expanded at an annualized rate of 1.1% in the second quarter.
Capital Economics described the GDP figures as mixed, noting that economic activity maintained a reasonable pace while government measures continued to limit the impact of higher energy prices. A rise in government consumption also indicated that Prime Minister Sanae Takaichi’s expansionary fiscal policies may be gaining traction.
Elsewhere in forex markets, the euro was little changed at $1.1573, while the British pound gained 0.1% to $1.3546. The Australian dollar traded at $0.7085, and the New Zealand dollar remained near $0.5891.
Recent weaker U.S. economic indicators, including nonfarm payrolls and consumer and producer inflation data, have reduced expectations for additional Federal Reserve rate hikes in 2026. Fed funds futures showed a 66.9% probability that policymakers will leave rates unchanged at the meeting ending September 16, compared with 47.6% a month earlier.
The U.S. Dollar Index slipped 0.1% to 99.519, hovering near its lowest level this month. Investors are now looking toward the Federal Reserve’s Jackson Hole symposium from August 27-29 for further signals on U.S. monetary policy.
Oil markets were volatile amid stalled U.S.-Iran negotiations and continued disruption to shipping through the Strait of Hormuz. Brent crude fell 0.1% to $88.48 per barrel as geopolitical tensions kept energy markets on edge.
The dollar was steady against China’s offshore yuan at 6.7428 ahead of upcoming Chinese economic activity data.
Cryptocurrency prices also moved lower, with Bitcoin falling 0.3% to $62,854.48 and Ether declining 0.3% to $1,874.80.
