Trump Meets Mexico and Canada Leaders After 2026 World Cup Draw Amid USMCA Tensions 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
BOK Expected to Hold Rates at 2.50% as Housing and Currency Pressures Persist 
U.S. Stock Futures Hold Steady Ahead of Key Fed Decision 
BOJ Signals Possible December Rate Hike as Yen Weakness Raises Inflation Risks 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Fed Officials Split as Powell Weighs December Interest Rate Cut 
Yesterday, a report from Bloomberg that suggested that Chinese government officials, who are reviewing the country’s vast forex reserves of more than $3 trillion have made a comment suggesting that China might reevaluate its reserve strategy and trim the country’s purchase of U.S. Treasuries
. The report sent both dollar and treasuries tumbling as a change of policy in China, which is the largest holder of U.S. Treasuries to the tune of 1.2 trillion could have significant ramifications for the global markets.
However, China’s State Administration of Foreign Exchange (SAFE), which is the country’s foreign exchange regulator countered the claim in the report by calling it false or fake news. "The news could quote the wrong source of information, or maybe fake news," the State Administration of Foreign Exchange (SAFE) said in a statement published on its website.
Both Treasuries and the dollar recovered after the Bloomberg report was countered. The dollar index, which is the value of the dollar against a basket of currencies recovered all the yesterday’s loss and is currently trading at 92.5. The U.S. 10-year yield declined more than 5 basis points and is currently trading at 2.54 percent.
