Latest market news
Independent UK financial coverage with full source attribution.
France-Germany 10-year bond spread breaches 150 basis points; euro weakens
The OAT-Bund spread surpassed 150 basis points — last seen during the 2012 sovereign debt crisis — as French 10-year yields moved toward 5%. The euro fell to its weakest since May 2025 against the dollar.
France-Germany 10-year bond spread hits widest level since 1990
The France-Germany 10-year government bond spread reached its widest point in Bloomberg records back to 1990; the euro fell to a 16-month low against sterling and EUR/CHF tested 0.9300 from recent support near 0.9475–0.9480; Societe Generale and Deutsche Bank each declined more than 5% on 7 October.
French OATs sold off; OAT-Bund spread widened, euro fell to 1.1215
French government bonds (OATs) came under selling pressure on 2 October 2026 following Paris's announcement of austerity measures; the OAT-Bund spread widened sharply and the euro fell to approximately 1.1215 against the dollar, a 17-month low.
Yen fell versus dollar after BOJ September summary; Nikkei 225 rose
USDJPY rose and the Nikkei 225 gained on 1 October 2026 after the Bank of Japan's September meeting summary omitted imminent rate-hike signals. Japan's Prime Minister also issued a statement on yen confidence following the BOJ release.
Japan intervenes in FX market; yen rises 3.3% against dollar
The yen advanced as much as 3.3% against the dollar on 31 July 2026, its largest single-day gain in over two years, following reported Japanese foreign exchange intervention; USD/JPY fell to 160.31 on 30 July from above 163.
Leveraged funds set record NZD short positions as of 20 July 2026
Leveraged funds held record short positions in NZD/USD as of 20 July 2026, according to Bloomberg Markets. The positioning was reported in the context of a rebound in Brent crude and WTI crude prices.
Japan finance minister signals pension reallocation to domestic assets; yen strengthens
Japanese Finance Minister Katayama announced on 10 July 2026 a plan to encourage pension funds including GPIF to increase domestic asset allocations; Japanese government bond yields fell and the yen strengthened against the US dollar following the announcement.
Japan yen intervention sends USD/JPY down 0.70% on 2 July
USD/JPY fell 0.70% on 2 July 2026 following unsignalled Japanese currency intervention, with EUR/USD rising 0.26% and GBP/USD rising 0.37% as the dollar softened broadly ahead of an early-released US non-farm payrolls report.
Yen falls to weakest level versus dollar since 1986 at 161.97
USD/JPY reached 161.97 on 29 June 2026, its highest level since late 1986, as the yen recorded a forty-year depreciation milestone against the US dollar.
USD/JPY rose to 161.76 on 18 June 2026, near 2024 peak
USD/JPY reached 161.76 on 18 June 2026, its highest level since 2024 and approximately 200 pips above the 160.00 level where traders had positioned for Japanese official intervention. The Bank of Japan held its policy stance on 17 June 2026, and yen implied volatility fell to its lowest since 2021.
SNB holds rate at zero, flags franc appreciation risk and FX intervention readiness
The Swiss National Bank held its policy rate at zero on 18 June 2026 and signalled heightened readiness to intervene in foreign exchange markets against franc strength. USD/CHF and EUR/CHF featured in coverage as instruments central to the SNB's monitoring framework.