The Indian rupee strengthened past 94 per dollar on Friday, regaining appeal among emerging-market currencies after spending much of the year in the doldrums, and also posted its best week in three weeks. The rupee ended at 93.9050 and is now down just 4.5% in 2026, after hitting an all-time low of 96.96 in May. For the week, the rupee has gained 1.1%, making it the second-best performer among Asian currencies. It was among the region's top performers on Friday, when most regional peers weakened. The pound fell against the dollar on Friday, as a stock market selloff hit currencies more geared towards global growth, while holding broadly steady against ?the euro around a 19-month high. The pound was last at $1.3399, down 0.4%, though roughly ?flat on the week due to gains in earlier sessions. It was at 83.41 pence per euro, steady on the day and week, and close to its highest since March 2025 which it hit Thursday in the aftermath of the BoE meeting. The dollar index , which measures the greenback against a basket of currencies, surged 0.63% to 102.12, with the euro tumbling 0.55% at $1.1157. The dollar was on track for its biggest daily percentage gain since September 16, while the euro was on pace for its biggest daily drop since October 7. The dollar was higher before the jobs data, buoyed by safe-haven demand, as the selloff in AI stocks spread worldwide, although US stocks had stabilized in the early stages of trading and the Nasdaq rallied nearly 2%. Treasury yields moved higher in the wake of the jobs report, with the 10-year yield up 3.1 bps to 4.868% and the 2-year yield rising 5.5 bps to 4.532%. The Japanese yen weakened 0.3% against the greenback to 158.20. Japanese Prime Minister Sanae Takaichi unveiled a plan Oil prices were set for a sharp weekly fall after the election losses of US President Donald Trump's Republican Party raised hopes of a de-escalation in the U.S- Israel war with Iran ?though attacks on vessels in the Middle East continue to provide a floor to crude. In a see-saw session on Friday, Brent crude futures for January were down 45 cents, or 0.46%, at $97.84 a barrel by 10:34 a.m. CDT (1637 GMT). US West Texas Intermediate futures edged up 15 cents, or 0.17% to $90.67.on Friday to tap proceeds from the Bank of Japan's sales of exchange-traded funds to finance her flagship investment projects, as the AI-fueled market rout threatened to dent tax revenue.
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