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Explosions were heard in Kyiv, the capital of Ukraine, on August 30. Air raid sirens had been sounded earlier in the city.The U.S. National Hurricane Center: Karinas intensity is approaching hurricane level and she continues to move toward more favorable conditions.On August 30, following US sanctions against Banque Misrs UAE branch, the Central Bank of the United Arab Emirates (CBA) stated that it expects banks licensed to operate in the UAE to "not expose the UAE financial system to reputational risk" or "abuse the UAEs advanced financial infrastructure." In a statement, the CBA indicated it would conduct an urgent inspection of Banque Misrs local branches in the UAE, emphasizing that these branches are subject to UAE laws and regulations. The CBA added that it is "studying contingency plans for potential special measures against the bank." The US Treasury Department stated that the sanctions against Banque Misrs UAE branch are part of a broader US effort to escalate economic actions against Iran and its international financial partners, and that this move will cut off the branchs access to dollar transactions.On August 30, Iranian Deputy Foreign Minister Gharibabadi stated that no vessel can pass through the Strait of Hormuz without Iranian coordination. Gharibabadi said, "The Strait of Hormuz is completely closed. If any vessel passes through the strait, it is certainly after coordination with Iran and obtaining permission." He stated that the Iranian armed forces have full control over all activities in the Strait of Hormuz, and the US claims regarding vessels passing through the strait are completely untrue. He indicated that Iran has reached an agreement with Oman on arrangements for passage through the Strait of Hormuz, but the strait will not be open until the US fulfills its commitments. He stated that Iran will continue its defensive actions and is prepared for any scenario.On August 30th, Democratic Senator Elizabeth Warren made sharp comments regarding President Trump and the war with Iran. She implied that oil companies closely associated with the president have profited from the war. "Hes the most corrupt president in American history, thats a fact," Warren said. "So the question becomes: what do we do? When Trump goes to war with Iran, and those oil industry allies who donated $1 million to his campaign start making huge profits, our responsibility is to expose that and fight back. Thats what we need to do." Undoubtedly, oil companies have profited immensely from the war. ExxonMobils second-quarter profit reached over $14 billion, double that of the same period last year. Chevrons second-quarter profit quadrupled compared to the same period in 2025, currently reaching $12.1 billion. Meanwhile, according to Trumps financial disclosures for the second quarter ending in 2026, he continued to buy and sell shares of oil and gas companies during the Iran war. Democrats, citing data from the Joint Economic Committee, stated that Trumps related holdings expanded from the $13 million to $46 million range at the beginning of the year to the $17 million to $61 million range in mid-August. The White House stated that Trump was not involved in these transactions. Warren said, "Want to lower gasoline prices? Then end the war with Iran. Just end this war."

USD/JPY falls to 146.00 as the DXY weakens and interest in BOJ policy rises

Alina Haynes

Oct 27, 2022 15:28

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During the Asian session, in response to negative signals from the US dollar index, the USD/JPY pair plunged below 146.00. (DXY). Following Wednesday's low of 146.22, the asset's two-day downward trend has extended. The main index is reaching the bottom of Monday's knee-jerk reaction near 145.77 as it continues to decline.

 

The dollar bears are facing a severe sell-off due to the positive market sentiment. The risk-sensitive currencies have benefited from an increase in risk appetite. The US dollar index (DXY) has struck a new monthly low of 109.56 and is anticipated to stay volatile until the release of crucial US economic data.

 

The increased demand for U.S. government bonds has resulted in a decline in yields. This is due to the global markets' increased confidence. The yield on 10-year United States Treasury notes has decreased to 4%.

 

According to estimates, the Gross Domestic Product of the United States expanded by 2.4% in the third quarter. Despite the ultra-hawkish monetary policies of the Federal Reserve (Fed) and the previously disclosed 0.6% fall in growth, forecasts indicate a positive growth rate.

 

In addition, US Durable Goods Orders data will continue to be a key point. Compared to a reduction of 0.2%, it is projected that economic statistics will increase by 0.6%. Notable is the increase in core inflation, which includes oil and food prices. In spite of this, the predicted increase in demand for durable goods in the United States demonstrates healthy household demand.

 

Investors in Tokyo are anticipating the Bank of Japan's (BOJ) interest rate decision on Friday. In view of the shocks to foreign demand, BOJ Governor Haruhiko Kuroda will continue an ultra-loose monetary policy to stimulate the outlook for economic development. In addition, Japanese policymakers are anxious that the inflation rate could go below 2%; hence, an extremely liberal policy is the best alternative.

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