Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
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.
