Forex News Today: Market Analysis for Traders

The Dollar Index gained 0.27% to 102.21 in the week ended October 9 on hawkish Fed minutes, Middle East tensions and French fiscal worries. It stood at 102.44 on Monday.

The Dollar Index rose to just above 102.50, its highest since April 2025, as Brent climbed above $107 after fresh Russian strikes and a third Iranian tanker claim.

Gold broke two resistance lines intraday while the US dollar pushed higher. Analyst Anna Radomska says both moves still need daily closes, at 4202 for gold and 102.05 for the dollar.

EUR/GBP resumed its bearish trend on Monday and tested a 16-month low of 0.8447. French debt, political deadlock and unrest weighed on the euro, while BoE hike expectations supported the pound.

EUR/USD is consolidating near its lows as French debt concerns support the dollar. US CPI is due Wednesday, and the French budget faces parliamentary hurdles.

USD/JPY drew buyers for a second day but lacked follow-through below the mid-158.00s. Fiscal worries in Japan and Middle East tensions are supporting the US dollar.

GBP/JPY extended gains for a second day to 209.91 as concerns over Japan's public debt, rising oil prices and weak household data kept the Yen under pressure.

EUR/USD traded around 1.1200 on Monday, close to its lowest level since May 2025, as French debt worries, a hawkish Fed and Middle East tensions favoured the dollar.