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10 August, 2026
Beyond words goes here
It was a positive week in global and US equities as renewed hopes for a new interim deal between United States and Iran lifted investor optimism early in the week. Focus shifted to the US labour market as the week progressed – jobs openings missed estimates, however initial jobless claims came in below 200k. The main event of the week was Friday’s jobs report, US employers unexpectedly cut jobs in July, suggesting the labour market was weaker than previously thought. In other data, the ISM Non-Manufacturing index rose to 54.1 in July, narrowly lagging expectations but remaining above 50 level signalling expansion.
It was a quiet week on the data front in Eurozone and United Kingdom. The Japanese Yen was in the headlines after it recently fell to a 40-year low against the US dollar, prompting a coordinated intervention by Japan and United States.
This week, investors’ attention will be on inflation measures in the US with CPI and Producer Price Index (PPI) data due to be released. In UK, Q2 GDP data will provide insight into the health of the UK economy. Emerging market investors will also be watching inflation data in India.
Source: Bloomberg as of 07/08/2026. Notes: Lined chart titled "USD/JPY Exchange Rate During Intervention Episodes" showing the daily US dollar/ Japanese Yen exchange rate during intervention episodes in 2026 where 0 denotes the day before the intervention.
The Japanese Yen recently fell to a 40-year low against the US dollar, prompting the third round of intervention in 2026 to stem the currency’s decline. The United States joined Japan in a rare, coordinated effort on the most recent effort.
Previous interventions have provided only temporary relief, with Yen weakness re-emerging within a few months.
The key question for investors is whether this episode will prove more durable, or are further catalysts required such as tighter monetary policy from Bank of Japan and shifting domestic asset allocation strategies to favour local capital.
Warning: The information in this article is not a recommendation or investment research. It does not purport to be financial advice and does not take into account the investment objectives, knowledge and experience or financial situation of any particular person. There is no guarantee that by putting a financial or investment plan in place, you will meet your objectives. You should speak to your advisor, in the context of your own personal circumstances, prior to making any financial or investment decision.
Warning: Forecasts are not a reliable indicator of future performance.
Warning: Past performance is not a reliable guide to future performance. The value of your investment may go down as well as up.
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