Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Dollar Holds Near Two-Month High as Yen Approaches 160 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Trump, Xi Focus on Trade and AI at White House Summit 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
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Asian currencies traded mostly steady on Friday as global markets reacted to growing expectations of a U.S. Federal Reserve rate cut next month, while Japan’s inflation figures drew significant attention. The U.S. Dollar Index remained muted during Asian hours but was still on track for a notable weekly loss, with U.S. Dollar Index Futures also flat around 04:50 GMT.
Market sentiment shifted sharply after traders boosted the probability of a 25-basis-point Fed cut at the December 9–10 meeting to nearly 87%, compared to about 40% just a week ago. Softer U.S. economic data and cautious, dovish-leaning commentary from some Fed officials helped fuel the move. However, uncertainty persists as data releases remain sparse and policymakers continue to deliver mixed messages. Additional speculation over Kevin Hassett potentially being appointed as the next Fed Chair has stirred debate, as markets anticipate that his leadership could favor earlier monetary easing and stronger pro-growth measures—factors that typically weigh on the dollar.
Across Asia, currency movements were limited despite the softer greenback. The South Korean won edged 0.2% higher against the dollar, while the Singapore dollar held steady. The Indian rupee gained 0.1%, and the Malaysian ringgit remained stable. China’s onshore yuan also showed little change, and the Australian dollar traded flat.
In Japan, investors focused heavily on Tokyo’s inflation indicators. Tokyo CPI data once again exceeded the Bank of Japan’s 2% target, reinforcing expectations that the BOJ may consider another rate hike soon. Core inflation in the capital has stayed in the high-2% range, strengthening the case for near-term policy tightening and offering mild support for the yen, which dipped 0.1% against the dollar. Stronger-than-expected industrial output and retail sales added to confidence that Japan’s economy may withstand higher rates. ING analysts noted that sustained inflation above target and robust economic readings bolster the likelihood of a BOJ rate hike in December.
