FTSE 100 Exchange rate

AUD/USD struggles near 0.6500 in Thursday's Asian trading, reversing early gains. The recent US Dollar weakness helps keep the Aussie afloat. Buyers, however, turn cautious amid US-China trade war as US is set to unveil further AI chip sanctions against China on Monday.

USD/JPY has stalled its recovery from over a one-month low early Thursday. Worries about the economic impact of Trump's pledged tariffs and geopolitical risks continue to underpin the safe-haven Japanese Yen while the US Dollar licks its wounds as the US Treasury yields rebound fizzles out on Thanksgiving Day.  

Gold price reverts toward the weekly low of $2,605 in Asian trading on Thanksgiving Thursday, snapping a two-day recovery. The US Dollar (USD) and the US Treasury bond yields breathe a sigh of relief, exerting downward pressure on the Gold price amid holiday-thinned trading conditions. 

The meme coin sector rallied on Wednesday as top tokens, including Dogecoin (DOGE), PEPE and BONK, led the charge. With growing anticipation of a DOGE ETF in the US next year, industry experts weighed in on the future of investing in meme coins.

The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.