The Japanese yen surged in morning trading on Wednesday, touching roughly 158.20 against the dollar. ^[1] The Indian rupee rose 67 paise to open at 94.30 against the US dollar on Thursday, September 3, reaching a two-month high. ^[2] The Reserve Bank of India mobilized $136.38 billion through special foreign-currency schemes, significantly surpassing market expectations. ^[3] The US dollar index slid down toward the 99 handle this week as global financial markets reacted to shifting economic conditions. ^[4] Jittery price movements continued amid lingering concerns about another potential intervention by authorities. ^[5] Non-resident deposits accounted for the bulk of the mobilization, contributing around $127 billion. ^[6] Bank of Japan officials dropped heavy hints about another interest rate hike, causing speculation that Japanese policymakers might raise borrowing costs soon. ^[7] Spot gold pushed higher, trading firmly above 4,400 dollars per ounce as a weaker greenback made bullion cheaper for overseas investors. ^[8] The ten-year Treasury yield dropped back down toward 4.75 percent after buyers emerged following a punishing multi-week bond selloff. ^[9] U.S. Treasury Secretary Scott Bessent expressed support in late August for Japan's steps to address the undervalued yen. ^[10] The rupee is expected to find further support from gains in Asian currencies and a retreat in the dollar index, which has fallen below 99.50. ^[11]