Particle.news

Download on the App Store

Dollar On Track for Best Week in Nearly a Year as Yen and Euro Weaken

A U.S. data blackout has traders keying off policy signals as political shocks in Japan and France pressure their currencies.

Overview

  • Japan’s yen slid to roughly 153 per dollar after Sanae Takaichi’s ascent to lead the LDP boosted expectations for fiscal stimulus and a slower BOJ tightening path.
  • The euro stayed under pressure following the resignation of French Prime Minister Sébastien Lecornu, with President Emmanuel Macron set to appoint a new premier within about 48 hours.
  • Federal Reserve minutes highlighted rising job‑market risks even as officials warned about inflation, yet futures still price roughly mid‑90% odds of a 25 bp cut on Oct. 28–29.
  • The U.S. government shutdown reached day nine, delaying key economic releases and leaving markets to rely on speeches, earnings and technical signals.
  • Gold pulled back below $4,000 an ounce after a record peak, while strength in AI and semiconductor names continued to buoy equities despite mounting valuation worries.