Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
U.S. Open to Special Trade Terms for South Africa Under Possible AGOA Extension 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Silver Prices Surge to New Record Above $60 as Supply Concerns and Fed Expectations Boost Demand 
Stocks Slip as Investors Brace for Fed Decision and JPMorgan Warning Weighs on Markets 
The U.S. dollar weakened for a third consecutive week on Friday, pressured by growing expectations of interest rate cuts next year after the Federal Reserve pushed back against more hawkish market assumptions. This shift in sentiment lifted major rival currencies, with the euro and British pound climbing to their highest levels since October as investors reassessed the outlook for U.S. monetary policy.
In early Asian trading, the euro held steady near $1.1741 after posting solid gains in the previous session, while the pound edged higher to around $1.3395. Both currencies are on track for a third straight weekly advance, reflecting sustained dollar softness. The greenback’s decline followed the Federal Reserve’s widely expected rate cut this week, alongside comments from Fed Chair Jerome Powell that were interpreted as less hawkish than markets had anticipated.
Market participants viewed the Fed’s messaging as reinforcing expectations that U.S. interest rates could fall further in the coming years. According to Ameriprise chief market strategist Anthony Saglimbene, the central bank’s effort to avoid unsettling investors may help support markets into year-end, even as uncertainty persists around inflation trends and labor market strength.
Traders are currently pricing in two U.S. rate cuts in 2026, a more dovish outlook than that suggested by policymakers, who foresee only one cut next year and another in 2027. Analysts at the Commonwealth Bank of Australia noted that concerns about the U.S. labor market could push the Federal Open Market Committee toward additional easing, with some forecasts calling for multiple cuts that would lower the federal funds rate into the 2.75%–3.0% range.
The U.S. dollar index slipped to around 98.34, extending its weekly decline to roughly 0.7% and leaving it down more than 9% for the year, its steepest annual drop since 2017. The Japanese yen also benefited from the softer dollar, while the Australian, New Zealand, and Swiss currencies gained modestly as global investors navigated diverging interest rate paths.
