The yen slips after a sharp drop in Japanese household spending, the dollar waits on US inflation data, and Indian shoppers are paying in rupees with stablecoins.
MoneyTurkey Currencies Desk | 10 November 2026
Key points
- USD/JPY back above 158.00 after Japan’s household spending fell 6.8% year on year
- FedWatch odds of a December Fed hike at 84%, up from 76% a day earlier
- Indian apps convert USDC to rupees at the checkout through UPI QR codes
Yen slips on spending slump
USD/JPY climbed back above 158.00 in Asian trading on Tuesday after Japan’s Internal Affairs Ministry said household spending fell 6.8% from a year earlier in September, the tenth straight monthly decline and the sharpest since September 2020, FXStreet reported. Bets on faster Bank of Japan rate hikes and intervention risk limited the yen’s losses, and the pair stays inside the range it has held since early October.
Dollar steady before CPI
USD/CHF traded around 0.8190 as the dollar moved sideways ahead of Tuesday’s October US consumer price report, according to FXStreet. Forecasts call for headline inflation to rise to 3.9% from 3.7% and core to edge up to 2.8% from 2.6%. The CME FedWatch tool put the odds of a December Fed rate hike at 84%, up from 76% a day earlier. Asian currencies were subdued as the dollar held firm.
Rupee checkout for crypto
Indian shoppers are using web apps such as goat.cash to pay vendors in rupees from USD Coin (USDC) holdings: the buyer scans the merchant’s UPI QR code, and an intermediary converts the stablecoin to rupees in under two minutes, The Economic Times reported. The paper described the practice as a grey zone in Indian payment rules and said stablecoins often trade at a premium in the local market.
For information only. Not investment advice.
Sources
- FXStreet: Japanese Yen weakens after dismal Household Spending data
- FXStreet: Swiss Franc holds ground ahead of CPI inflation data
- Yahoo Finance: Asia FX subdued as dollar holds
- The Economic Times: Crypto goes shopping in rupee using QR-linked loophole
