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Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
The Japanese yen weakened on Monday as expectations grew that Sanae Takaichi, a staunch supporter of aggressive fiscal and monetary stimulus, is set to become Japan’s next prime minister. Reports indicated that Takaichi secured key political backing, boosting investor confidence in risk assets and weakening demand for the safe-haven yen.
Market sentiment improved after trade tensions between the U.S. and China eased and concerns over U.S. regional banks subsided. The U.S. dollar gained 0.2% to 150.82 yen at 0010 GMT, rebounding from Friday’s 1.1% drop sparked by fears of bad loans and trade disputes over Chinese rare earth exports.
Investors reignited the so-called “Takaichi trade” — bullish on Japanese equities and bearish on the yen — following reports from Kyodo that the ruling Liberal Democratic Party (LDP) and the Japan Innovation Party (JIP) will formalize an alliance ahead of Tuesday’s parliamentary vote. Takaichi’s leadership prospects brightened after forming ties with the right-leaning JIP, following a split with Komeito, the LDP’s coalition partner for 26 years.
The shift in sentiment also buoyed risk-sensitive currencies. The Australian dollar advanced 0.3% to $0.6500, while the euro edged up 0.1% to $1.1661. Traders are watching China’s upcoming GDP data closely, as it remains Australia’s largest trading partner.
Wall Street’s main indexes closed higher after easing credit concerns, with analysts noting strong balance sheets among major banks. “There’s a lot more bark than bite on credit fears,” said Jed Ellerbroek of Argent Capital.
Meanwhile, U.S. President Donald Trump acknowledged that a proposed 100% tariff on Chinese goods would be “not sustainable” and confirmed plans to meet with President Xi Jinping in two weeks, calming fears of further escalation.
