Tech stock weakness on Thursday sent investors into US Treasuries, with the 10-year yield falling more than 19 basis points, its steepest drop since March 2023, and markets stripping almost a full quarter-point hike from next year's Fed pricing, which reduced the dollar's rate advantage. The yen and Swiss franc gained as safe havens, while EUR/USD stayed flat around 1.12 as France became the bigger worry. The premium on French 10-year bonds over Bunds widened to a 15-year high, with France's 10-year yield at its highest since July 2002, and the article notes France is under an EU excessive deficit procedure, which may keep it from qualifying for the ECB's Transmission Protection Instrument. Sterling was supported by UK September inflation at 3.5% (core 2.8%), with LSEG data showing traders treating a quarter-point Bank of England hike to 4% on November 5 as almost certain.
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Related tickers and likely impact
DXY
• NeutralRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/22/2026 | 101.62 |
| Change that session | -0.07% |
EUR/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/22/2026 | 1.12168 |
| Change that session | -0.14% |
GBP/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/22/2026 | 1.34003 |
| Change that session | +0.04% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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