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| US Dollar Review |
The US Dollar Index's overall trend, revealed by trends of price, leverage, and time, are defined in The Matrix for subscribers.
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Japan and Yen Could Be the Flashpoint
The yen strengthened slightly on Friday after Japan’s finance minister signaled that currency intervention was possible to counter volatile, speculative moves, prompting traders to watch for potential yen buying. Despite the bounce, the currency remained near multi-month lows and on track for a weekly loss amid concerns over Japan’s worsening fiscal outlook and Prime Minister Sanae Takaichi’s large stimulus plans, including a newly approved ¥21.3 trillion package. Analysts noted rising intervention risks but expect any actions to be brief. Meanwhile, the dollar headed for its strongest weekly gain in six weeks as markets weighed the likelihood of a Federal Reserve rate cut next month. Mixed U.S. labor data and comments from New York Fed President John Williams increased expectations for a December cut to about 60%. The euro and pound were both set for weekly declines, while the dollar index hovered near a 5½-month high. The Australian dollar stabilized after recent losses, and the New Zealand dollar edged higher.
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