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2025-10-31 20:03:48
[Yen Boosted by Finance Minister, Pound Falls to Year-to-Date Low] ⑴ The yen rose on Friday after Japan's new finance minister said he was closely monitoring foreign exchange market movements with a high degree of urgency. ⑵ The dollar held steady at 154.125 against the yen, remaining above its near nine-month low, as Tokyo's core CPI rose 2.8% year-on-year, exceeding expectations. ⑶ The yen fell 4% in October, its worst monthly performance since July, and its exchange rate against the euro fell to a record low. ⑷ The dollar index hovered near a three-month high, influenced by central bank decisions, tech earnings reports, and the temporary suspension of tariffs between the US and China. ⑸ Federal Reserve Chairman Powell remained cautious about a December rate cut, with market expectations falling from 90% a week ago to 75%. ⑹ The euro was flat against the dollar at 1.1562 after the European Central Bank kept interest rates unchanged at 2% for the third consecutive time, saying policy was "in the right place." (7) The pound fell 0.2% to 1.312, bringing its monthly decline to 2.3%, as political pressure surrounding Chancellor Rachel Reeves continued to mount. (8) The euro rose 0.15% against the pound to 0.8812, a more than two-year high, and is on track for its fifth consecutive month of gains. (9) Market concerns about the impact of the UK's November budget on businesses and households led investors to flock to UK government bonds as a safe haven.
