Dollar Gains on Better-Than-Expected US Labor Market News

Group 1: Dollar Index and Federal Reserve - The dollar index rose by +0.11% amid short covering ahead of the FOMC meeting, with expectations of a 25 bp cut in the federal funds target range [1][3] - The unexpected rise in October JOLTS job openings to 7.670 million, a 5-month high, indicates a stronger labor market, which is a hawkish factor for Fed policy [1][3] Group 2: Federal Reserve Chair Selection - President Trump plans to announce his selection for the new Fed Chair in early 2026, with Kevin Hassett seen as the likely candidate [2] - Hassett's nomination is viewed as bearish for the dollar due to his dovish stance and support for President Trump's approach to interest rate cuts [2] Group 3: Euro and German Trade Data - The euro fell by -0.05% against the dollar, influenced by the dollar's strength and weaker-than-expected German trade news [4] - German October exports rose by +0.1% m/m, below expectations of +0.2% m/m, while imports fell by -1.2% m/m, weaker than the anticipated -0.5% m/m [5] Group 4: Japanese Yen Performance - The yen declined by +0.60% against the dollar, reaching a 2-week low due to comments from BOJ Governor Ueda regarding bond yields [6] - The stronger-than-expected US October JOLTS job openings report contributed to higher T-note yields, further pressuring the yen [6]