FX weekly: Greenback climbs, Yen slides for fourth consecutive week — TradingView News

The dollar index DXY, which measures the greenback against a basket of major currencies, was last up 0.36% at $102.58 and remains up over 4% for the year to date.

Dollar weekly moves and key drivers:

Over the past week, the index registered its fourth consecutive week of gains, pushing the greenback to its highest level since April 2025.

Investors assessed Middle East tensions and their impact on energy prices and inflation. Oil prices eased after US President Donald Trump pledged to delay attacks on Iran until after the midterm elections.

Meanwhile, expectations of tighter Federal Reserve policy persisted, as markets largely expect rates to remain unchanged this month, while pricing in an 86% chance of a December hike.

U.S. Treasury yields were lower over the week, with the 10-year yield (US10Y) moving eight basis point downward at 5.24%, while the 2-year yield (US02Y) shed four basis points to 4.80%.

Major currency movements (Sep. 28 to Oct. 4)

In the last week, Sterling (GBP:USD) rebounded from three-month lows to around $1.324, supported by lower oil prices, stabilizing global bond markets, and improved risk appetite, while investors weighed hawkish comments from Bank of England policymakers. The currency was last down 0.23%.

The Japanese Yen JPY was last down 0.26%. The yen recorded its fourth consecutive weekly loss amid a wide US-Japan interest rate gap and Japan’s heavy debt burden. Personal spending fell for a ninth straight month in August as inflation kept consumers cautious.