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On Friday, October 2, 2026, the US dollar index slipped on the day but was still up about 1% for the week, putting it on course for a third straight weekly gain. The euro edged higher against the dollar that day while remaining lower for the week; the yen also strengthened. These are different measures and time windows, not contradictory moves.
What the dollar’s three-week streak means
The dollar index tracks the US currency against a basket of major currencies, rather than against any single one. Reuters, in a report republished by Investing.com on October 2, put the index at 101.93 at 15:36 ET (19:36 GMT), down 0.2% on Friday but up about 1% for the week. That report said the index was set for its first three-week winning streak since mid-January.
A separate Reuters report that day gave a different snapshot: 102.08, also up about 1% for the week, and described the index as having reached a 17-month high earlier in the reporting window. It characterized the three-week run as the first since May 2025. The reports may use different cutoffs or framing, so their historical comparisons should not be treated as the same calculation.
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Why the dollar was supported—and what limited its gains
Reuters reporting identified renewed selling in the US bond market, elevated Treasury yields, selling in European government bonds and the euro’s decline as supports for the dollar. Expectations for a hawkish Federal Reserve stance also figured in the market commentary.
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The move was not one-way. Reuters said the September US jobs report was weaker than expected, tempering expectations for imminent Fed rate hikes and prompting the dollar to give back some gains. The reported drivers describe market interpretation at the time; they do not establish a forecast for the dollar or the Fed’s next decision.
Why the euro rebounded on Friday but fell for the week
Reuters reported the euro at $1.1258 on Friday, up 0.1% on the day after its sharpest intraday fall since June 17. Over the full week, however, it was down 1.2% against the dollar and headed for a fourth consecutive weekly loss. A small daily bounce can coexist with a larger weekly decline because the measurements cover different periods.
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Inflation and French fiscal concerns
The Reuters report attributed pressure on the euro to concerns about France’s budget and public finances, rising French borrowing costs and euro-area inflation data. It reported headline euro-area inflation at 3.8% in September, up from 3.2% in August and above the report’s cited 3.6% expectation; core inflation was reported at 2.5%, up from 2.4%. These are figures as reported by Reuters, not independently verified here against the underlying statistical release.
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For France, the report said the proposed 2027 budget aimed to bring the public deficit to 5% of GDP through proposed spending cuts of 54 billion euros. It also reported a projected deficit of 5.4% of GDP for the year and public debt approaching 120% of GDP. Those figures reflect the Reuters account of the fiscal situation and proposal.
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Thierry Wizman, global FX and rates strategist at Macquarie, offered a market interpretation of the euro’s drop: “The USD rose sharply against most of the majors yesterday, but the impulse came main from the EUR’s plunge.” He also said rising French sovereign risk premiums “now likely eliminates the possibility of an October 29 hike from the ECB.” These are Wizman’s opinions, not an ECB decision or certainty.
Why the yen strengthened
Reuters put the yen at 157.82 per dollar and linked its gain to Tokyo inflation data. The report said both headline and core inflation reached their highest levels since November 2025 and remained above the Bank of Japan’s 2% target. It said this strengthened market expectations of further BOJ tightening following a quarter-point rate increase in September. Japanese government bond yields reportedly fell after reaching 30-year highs earlier in the week. These developments were reported as market context, not a guarantee of the BOJ’s policy path.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to read the moves together
- Dollar index: a broad basket measure that can rise over a week even if it falls on a particular day.
- Euro-dollar rate: a bilateral exchange rate; the euro’s Friday uptick did not erase its reported weekly loss.
- Dollar-yen rate: a separate pair, with the yen’s reported strength associated with Tokyo inflation and expectations for BOJ policy.
The October 2 reporting is a dated market snapshot, not a live quote or reliable basis on its own for predicting exchange rates or choosing a currency trade.
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