The U.S. Dollar climbed to fresh highs after a hawkish-leaning Federal Reserve cut of 25 basis points, with dissent among policymakers and Chair Powell signaling a December cut is not guaranteed, pushing rate-cut odds down to 69.0 percent. With the U.S. government shutdown delaying Jobless Claims and third-quarter GDP, markets remain headline-driven amid reported U.S.–China de-escalation that includes reducing pharmaceutical tariffs from 20.0 percent to 10.0 percent and concessions on special metals. The Euro weakened despite the European Central Bank holding at 2.15 percent alongside firmer data, while the Mexican Peso slid as third-quarter GDP contracted negative 0.3 percent, boosting odds that Banxico could move toward a 50 basis point cut from a 7.5 percent policy rate.
