市场陷入“泡沫”争论之际，美元悄悄站上三个月高点

Core Viewpoint - The article discusses the strengthening of the US dollar amidst global market volatility driven by tech stock earnings and unclear central bank policies, highlighting a shift in market sentiment towards safer assets like the dollar [1][6]. Group 1: US Dollar Dynamics - The US dollar index stabilized at 99.5, reaching a three-month high due to risk-averse sentiment following a decline in US stocks [1]. - Market expectations regarding the Federal Reserve's interest rate path have shifted, with traders reducing bets on a rate cut in December, enhancing the appeal of dollar assets [6][8]. - The yield on the US 10-year Treasury note rose to approximately 4.1%, reflecting the changing market expectations and increasing the relative attractiveness of dollar-denominated assets [8]. Group 2: Japanese Yen Performance - The Japanese yen stabilized after reaching a near nine-month low, supported by comments from the new Finance Minister Satsuki Katayama, who indicated a heightened monitoring of foreign exchange trends [3][7]. - Despite a slight rebound, the yen has depreciated by 4% against the dollar over the past month, marking its worst monthly performance since July [3]. - Tokyo's core consumer price index (CPI) rose by 2.8% year-on-year, exceeding market expectations and complicating the Bank of Japan's position on maintaining interest rates [7]. Group 3: Other Major Currencies - The euro appreciated to 1.156 against the dollar, following the European Central Bank's decision to keep rates unchanged at 2% for the third consecutive meeting [11]. - The British pound remained stable at 1.31555 against the dollar, amid political pressures faced by the UK Chancellor [15]. - Commodity currencies like the Australian and New Zealand dollars showed weakness, with the Australian dollar down 0.1% to 0.65495 and the New Zealand dollar down 0.2% to 0.57325, reflecting global risk aversion [15].