Gold Prices Surge on U.S.-Iran Ceasefire Reports 
Bank of Japan Eyes April Rate Hike Despite Inflation Dip, ING Says 
Federal Reserve Balance Sheet Reduction: Brookings Research Outlines Possible Path Forward 
Asian Stocks Gain Amid Iran Conflict Uncertainty 
Wall Street Slides as Iran War Uncertainty, Oil Surge, and AI Fears Rattle Markets 
Japan Eyes Oil Futures Intervention to Stabilize Yen Amid Middle East Crisis 
Middle East War Rattles Global Markets as Oil Tops $100 and Dollar Surges 
Oil Prices Plunge Over 6% as Middle East Ceasefire Hopes Ease Supply Fears 
Australia-EU Free Trade Deal Signed After Years of Negotiations 
Bank of Japan Officials Signal Continued Interest Rate Hikes Amid Inflation Concerns 
Japan's Private Sector Growth Slows in March Amid Rising Costs and Middle East Uncertainty 
ECB Eyes Rate Hike Amid Iran Conflict-Driven Energy Price Surge 
Australia's Inflation Eases in February but Core Pressures Persist 
Gold is meant to be a ‘safe haven’ in uncertain times. Why is it crashing amid a war? 
The Japanese yen hovered near a record low against the euro and a nine-month trough versus the U.S. dollar on Thursday after Japan’s new Prime Minister, Sanae Takaichi, urged the Bank of Japan (BOJ) to move cautiously on raising interest rates. The yen traded at 179.32 per euro after hitting an all-time low of 179.47 overnight and stayed steady at 154.82 per dollar following its dip to 155.05, the weakest level since February.
Takaichi emphasized her administration’s preference for maintaining low borrowing costs and called for close coordination with the BOJ, asking Governor Kazuo Ueda to provide regular updates to the government’s Council on Economic and Fiscal Policy. Meanwhile, Finance Minister Satsuki Katayama issued a fresh warning on yen weakness as it approached the 155 mark, citing “one-sided and rapid movements” in the foreign exchange market.
Economists say the yen’s persistent decline is raising concerns in Tokyo. Norihiro Yamaguchi of Oxford Economics noted that the exchange rate has become “crucial to the survival of the administration,” suggesting the government may eventually accept BOJ rate hikes to stabilize the currency. Markets now price in a 24% chance of a 0.25% rate increase in December, climbing to 46% by January.
In contrast, the Australian dollar strengthened to a two-week high of $0.6559 after official data showed a sharper-than-expected drop in unemployment, easing pressure on the Reserve Bank of Australia to cut rates. Employment surged in October, led by full-time hiring, lowering the jobless rate and signaling resilience in the labor market. A top RBA official said there’s growing debate over whether the current 3.6% cash rate is sufficiently restrictive to tame inflation.
A weak yen and solid Australian data have fueled volatility across currency markets, with traders watching closely as the U.S. government shutdown nears its end—potentially unleashing a flood of delayed economic reports.
