In Asia, the yen weakened to 158.5 as an October BoJ hike looked unlikely. The yuan, meanwhile, approached its strongest since July 2022 near 6.69, supported by China’s $133.53 billion trade surplus and record exports and imports.

Brent climbed above $106 as Houthi strikes on Saudi Aramco and Iranian attacks on tankers in the Strait of Hormuz threatened energy supplies. The IMF added to concerns, warning that Middle East tensions, rising debt and a potential AI downturn could threaten global growth.

Gold hovered near $4,150 and silver around $59 before US CPI data, with an 88% probability of a December Fed hike keeping precious metals under pressure. 

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