The U.S. government shutdown has ended, and work has returned to normal. The future of the dollar will be determined by analysis of the U.S. economic indicators to be released in the near future, but it is difficult to imagine that the yen will rise against the euro or other currencies, at least given the policies of the Takaichi administration.
Many players had assumed that the end of the government shutdown in the U.S. would bring a return of upward momentum to the market, but in reality, the market has “run out of material”.
In fact, however, the market was actually “running out of material.” Many AI-related stocks were sold off, and Japanese stocks were also sharply lower.

All eyes will be on U.S. stocks. If they fall further, it will be the beginning of a full-fledged correction.
Normally, November is a month when U.S. stocks tend to rally, but this time the picture is different.
The market is sensitive to the overvaluation of high-tech stocks, and if they start to fall, there is a possibility that they will continue to do so.

In the currency market, there is a noticeable flight to the Swiss franc. The market is currently in a trend of dollar weakness mixed with yen weakness.
The Eurodollar had been in a downtrend since hitting a high of 1.1920 in September, but has been in a reversal trend since this week.
Gold and silver reversed first, but the euro is following suit.

Intervention by the SNB in the Euro-Swiss near 0.9200 is also a concern, but it appears that the trade is becoming more active, selling the pound on deteriorating fundamentals and buying the Swiss franc.

As for the pound, the July-September GDP came in slightly below expectations, weakening the pound. However, the difference between the lower-than-expected GDP and the forecast is still very small, and the pound is currently higher than it was prior to the GDP release.
Even so, the pound is likely to be in a long-term downtrend. We would like to sell the return carefully.
If the pound sells off, the U.S. will be next? If the pound sells off, the next move will be to the U.S.?

Long cross yen seems to be an easy position to be aware of.
There is likely to be a market move before Thanksgiving.