Trump, Xi Focus on Trade and AI at White House Summit 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Dollar Holds Near Two-Month High as Yen Approaches 160 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
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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.
