The U.S. Dollar softened as markets grew uneasy about labor risks and uncertainty around the government shutdown, though negotiations appear to be gaining traction. Banxico delivered a twenty-five–basis-point cut but hawkish-leaning language and rising inflation supported the Mexican Peso, which is up eleven point zero percent in 2025. In Canada, a surprisingly strong October jobs report—sixty six point six thousand added, unemployment down to six point nine percent—helped the Loonie rebound from its weakest level since April.