The yen steadied near the 160-per-dollar level on Tuesday after U.S. Treasury Secretary Scott Bessent ramped ​up pressure on the Bank of Japan to ​hike rates later this month, while currency markets kept a wary watch on renewed attacks ​in the Middle East.

U.S. President Donald Trump threatened further strikes against Iran after the first exchange of direct attacks in a month as the six-month-long conflict shows no signs of ending. The fresh attacks sent Brent crude futures above $91 a barrel and Treasury yields higher. [O/R][US/]

The yen last bought ‌159.81 per dollar, having ⁠weakened past ⁠the 160 level in the two previous sessions. The yen firmed after Bessent said he believed Japan’s government and central bank would take action that ​leads to a stronger yen.

“I have information that the market doesn’t have, and it’s my belief that the Japanese government and the BOJ ​will do the things that will lead to a stronger yen,” Bessent told CNBC in an interview during a Group of 20 finance leaders’ gathering.

A rare joint intervention from the U.S. and Japan at the end of July provided short-lived relief ​for the fragile yen, with the currency having since surrendered most of the gains ⁠from the ‌joint action.

Markets are pricing in a 73% chance of a hike from the BOJ later this ​month, but analysts ​suggest there needs to be a much stronger follow-through by the central bank.
“For the yen, a ⁠September BOJ hike is already heavily anticipated,” said Charu Chanana, chief investment strategist ​at Saxo.”With US yields still high and rising oil worsening Japan’s terms of trade, ​the yen probably needs a more hawkish BOJ path beyond September – not just one hike – to sustainably move away from 160.”

The U.S. dollar was subdued, backing away from Friday’s gains as investors contended with rising odds of a hike from the Federal Reserve in September after last week’s hawkish remarks from Fed Chairman Kevin Warsh.

The euro was steady at $1.1623 after eking out a nearly 1% gain for August. Sterling last fetched $1.35575 after a 0.5% rise last month. The dollar index, which measures ‌the U.S. currency against six other units, eased to 99.37.

In his debut speech at the Jackson Hole symposium of central bankers, Warsh said the Fed will “have work to do” should inflation not appear to ​be cooling, stoking ​expectations of a possible rate hike ⁠in the upcoming Fed meeting in September.

Traders are pricing in a 65% chance of a Fed hike later this month, compared to 41% a week earlier, the CME FedWatch tool showed.

“It is notable that higher oil prices and Treasury yields have ​failed to support the USD,” said Carol Kong, a currency strategist at Commonwealth Bank of Australia.

“The overnight USD weakness may reflect markets reassessing whether Chair Warsh’s hawkish stance is sufficient to restore Fed credibility. Rising expectations of a September BoJ rate hike also added further pressure on the USD.”

Investor attention will be on a slew of economic data later this week that will help guide whether the Fed will deliver a hike.

In other currencies, the Australian dollar was a touch firmer at $0.7172, while the New Zealand dollar fetched $0.5921.

Mumbai: September has delivered mixed returns for Indian equity investors over the past decade, and analysts expect limited upside for the Nifty this year. Mid- and small-cap stocks could once again outperform, extending a trend that has historically favoured the broader market during the month.

Over the past 10 years, the Nifty 50 and Nifty 500 have risen in five Septembers each, with average losses of 0.27% and 0.17%, respectively, according to Bloomberg data. However, the Nifty Midcap 100 and Nifty Smallcap 250 advanced in seven out of the past 10 Septembers, the data showed.

“September seasonality has generally favoured small-caps and mid-caps, while large caps have delivered mixed returns, and we see a strong probability of this trend continuing into the month ahead,” said Sriram Velayudhan, senior vice -president at IIFL Capital Services. “Paper supply across both primary and secondary markets is likely to put pressure on large caps, as funds will look to liquidate holdings for participation.”

The Nifty fell 0.4% to end August at 24,080.4. The NSE benchmark declined 1.2% during the month.

The Nifty Midcap 100 climbed 2.1%, the Nifty Smallcap 250 gained 2.5%, while the Nifty 500 index was flat in August.

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“We do not see much upside for the headline indices going into September, as heavyweight sectors such as banks, FMCG and IT have shown weaker performance recently, while FII selling, which had paused over the last few weeks, has resumed,” said Siddarth Bhamre, head of institutional research at Asit C. Mehta Investment Intermediates. While foreign investors remained net buyers of equities worth ₹8,385 crore in August, they sold shares worth ₹7,986 crore on Monday, with the outflows largely driven by MSCI’s August rebalance.Bhamre said the Nifty has remained in a narrow range for the past four months and, without fresh triggers, is likely to continue trading within that band.

“However, domestic fund flows remain concentrated in mid- and small-cap stocks, which could continue to outperform. We therefore expect market action to remain largely stock-specific until fresh triggers emerge,” he said.

Velayudhan said the Nifty is expected to remain range-bound between 23,800 and 24,600, with investors closely monitoring developments around geopolitical tensions.

ET Intelligence Group: Foreign portfolio investors (FPI) continued to show interest in India’s primary market in the first eight months of 2026 at a time when global geopolitical uncertainties have affected their secondary market inflows. They have invested $4.9 billion (₹45,848 crore) in the IPOs so far this year compared with $4.7 billion (₹40,309 crore) in the comparable period of the previous year.

In contrast, they were net sellers of equities worth $28.9 billion (₹2.7 lakh crore) in the secondary market, far higher than the outflow of $19.6 billion (₹1.7 lakh crore) in 2025 till August-end.

The FPI inflow in the primary market has gained traction since July when they pumped in $1.4 billion (₹13,468 crore) followed by $1.3 billion (₹12,265 crore) in August. This coincides with a higher momentum in the domestic primary market, which has raised ₹51,101 crore in the two months to August from 35 IPOs.

In July, the year’s two largest IPOs so far were launched including those of SBI Funds management at ₹9,796 crore and Manipal Health Enterprises at ₹9,275 crore. This formed 69% of ₹73,673 crore raised in the first eight months of 2026 from 62 IPOs.

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In the first eight months of 2025, though the number of IPOs was lower at 49, the money raised was similar at ₹71,954 crore, driven by large IPOs including that of HDB Financial Services, which raised ₹12,500 crore and Hexaware Technologies, which mopped up ₹8,750 crore.
In the secondary market, momentum is gradually catching up as FPIs are showing renewed interest against the backdrop of a sell-off in the Asian markets including South Korea and Taiwan where semiconductor stocks are losing ground amid uncertainties over the sustainability of the capital expenditure on the artificial intelligence (AI) technology.

Asian bonds followed Treasuries lower as renewed geopolitical tensions drove oil prices higher, fueling inflation concerns and expectations for further monetary tightening.

Government bonds in Japan, Australia and New Zealand fell after the benchmark 10-year Treasury yield rose two basis points to 4.77%, its highest level since January 2025. The yield on the 10-year Japanese government bond rose to 2.965% after touching a three-decade high in the previous session.

Brent crude extended gains in early Asian trading to over $91 a barrel after renewed fighting in the Middle East. The US and Iran exchanged strikes for the first time in about a month as American forces hit an island in the Strait of Hormuz and the Islamic Republic responded by launching attacks on the United Arab Emirates and Jordan.

Elsewhere, the MSCI Asia Pacific equities gauge was little changed, with focus on the technology sector after Nvidia Corp. said it’s investing $3.5 billion in MediaTek Inc., deepening its collaboration with the Taiwanese chipmaker.

The flare-up in Middle East tensions has dimmed prospects for a normalization of shipping through Hormuz, keeping oil prices elevated and adding to inflation concerns. Money markets have increased bets on a September interest-rate hike after Federal Reserve Chair Kevin Warsh underscored his commitment to bring down inflation at Jackson Hole last week, putting increased focus on this week’s employment report.

“With traders tracking geopolitical volatility as well as potential seasonal volatility, it will be interesting to see which market impulse from last week might carry over to this week,” said Chris Larkin at E*Trade from Morgan Stanley. “Unexpectedly strong labor-market data might be taken as bad news by the market, since it could reinforce expectations for a rate hike.”
The August US payrolls data is expected to be consistent with general steadiness in the labor market that’s helping the Fed focus more intently on its battle with inflation.

Friday’s jobs report “will be critical,” though the Sept. 11 consumer-price data will be even more important given Warsh’s view that the US economy is at full employment, said JPMorgan Chase & Co.’s Andrew Tyler. He’s shifted to a “tactically cautious” view on US stocks for the next few weeks, but expects a strong backdrop will persist amid economic data and earnings.

Mumbai: The Indian rupee gained 21 paise Monday, helped by equity index-related inflows on the last day of the month. The inflows caught traders by surprise, triggering stop-losses among some and accelerating the currency’s rise.

The rupee closed at 95.16 per dollar, compared with 95.37 on Friday and its highest since August 5. The RBI intervened in the early hours of trade, dealers said.

“The MSCI index related inflows triggered stop losses for many traders around 95.20-95.25 levels, so the gains from there were quick. Intervention by the RBI in the offshore market and in the early hours of the trade also caused the rupee to open stronger than expected,” said Ritesh Bhansali, deputy CEO, Mecklai Financial Services.

Several Indian stocks were expected to see heightened trading activity Monday as the MSCI rebalancing changes, announced on August 13, were implemented August 31, with the revised weights becoming effective Tuesday. MSCI is also increasing the weights of seven stocks, which is expected to bring additional inflows.

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The currency traded in the range of 95.10 and 95.50, with a major part of the rally happening in the second half.
A rise in crude oil prices to $91 per barrel from $88 last week was countered by a softer dollar index after the US Fed chair’s hawkish comments on Friday, which has prompted markets to factor in a potential US rate hike as early as September.The currency was expected to open at 95.55-95.60, but opened at 95.42 on Monday, likely due to dollar sales by the Reserve Bank of India. The rupee has weakened 0.3% so far in this financial year.

Dealers also drew comfort from banks working at full steam to garner FCNR(B) deposits on the final day of the scheme, as the inflows would give the RBI more firepower to support the rupee through dollar sales. The central bank has also said it would use part of the resulting liquidity to allow some of its short forward positions to mature.

A 13-year-old Seattle Mariners fan turned a free ballpark giveaway into a five-figure payday after a rare rookie card featuring the city’s viral raccoon sensation sold for a whopping $21,100.

The one-of-one gold “Jimothy” rookie card sold on eBay Sunday night after drawing 100 bids, transforming a quirky Mariners promotion into an unexpected $21,100 payday for the young fan.

The bidding started at just 99 cents before skyrocketing past $21,000 in a matter of days.

The card belonged to 13-year-old Mariners fan Abby, who landed the coveted gold version after the team capitalized on the sudden fame of Jimothy, an unusually shaped raccoon whose appearances around Seattle’s Ballard neighborhood have turned him into an unlikely local celebrity.

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The Mariners confirmed to Fox News Digital that Abby’s golden ticket or, in this case, golden card was tucked among thousands handed out during the team’s Aug. 5 promotion.

“Talk about a one-of-a-kind pull,” T-Mobile Park wrote in a social media post announcing Abby’s find alongside photos of the teenager holding up the rare card.

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The Mariners announced July 29 that “Jimothy is taking over” T-Mobile Park as part of a special promotion scheduled for Aug. 5.

The first 20,000 fans through the gates were set to receive a Jimothy rookie card, the team said, with several rarer “chase cards” mixed into the giveaway.

“Among the 20,000 cards, we had collection of ‘chase cards’ which were headlined by the 1-of-1 gold card that Abby took home,” the Mariners told Fox News Digital. 

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Fans could also purchase a special ticket package that included a Jimothy T-shirt, with a portion of the proceeds benefiting the Ballard Food Bank.

But among the thousands of cards handed out was the ultimate prize: the pristine, one-of-one gold Jimothy rookie card that eventually ended up with Abby.

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The teenager later put the card up for auction on eBay, where collectors quickly drove up the price.

After opening at $0.99, the auction steadily climbed into the thousands before ultimately closing at $21,100 Sunday following 100 bids.

Several Jimothy and Seattle Mariner’s fan pages claimed the proceeds from the sale are expected to go toward Abby’s college fund.

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The frenzy is the latest chapter in the unlikely rise of Jimothy, a raccoon believed to have a rare condition known as Short Spine Syndrome that gives him his distinctive compact appearance.

Jimothy became an internet sensation in July after videos showed the small, round raccoon wandering through Seattle’s Ballard neighborhood.

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Videos of the critter quickly racked up millions of views as residents documented him scurrying across streets, appearing in backyards and roaming the neighborhood.

Despite his unusual appearance, Jimothy appeared healthy and active, Fox 13 Seattle previously reported.

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Dmitriy Ishimskiy, a Ballard resident who captured footage of the raccoon and said Jimothy regularly visited his property, told Storyful in July that the animal had quickly become a neighborhood star.

“Over the past week, Jimothy has become a local celebrity, and I feel lucky to have captured this moment on video,” Ishimskiy said.

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The Mariners soon joined the Jimothy craze, bringing the viral raccoon from the streets of Ballard to the ballpark with Jimothy-themed events in August.

Mumbai: India’s primary market is gearing up for a blockbuster September, with issuers set to launch IPOs worth ₹20-25,000 crore, as companies rush to beat approval deadlines that were extended until the end of this month to prevent exposing them to periods of extreme volatility during share sales.

According to bankers, nearly 25 companies are in the pipeline for September, with several issuers seeking to complete their offerings before approvals from the Securities and Exchange Board of India (Sebi) are due to lapse. The pipeline includes a mix of large and mid-sized companies, with a slew of issues expected to raise more than ₹500 crore. The September pipeline reflects improving sentiment among issuers after a cautious first half, according to Sonia Dasgupta, MD & CEO, Investment Banking, JM Financial.

“The September IPO pipeline demonstrates the strength of India’s capital markets apart from signalling the release of a restrained sentiment among the issuers, which prevailed in a more cautious first half,” Dasgupta said. “Bucking the subdued trend, the issuers are now looking to capitalise on improved market sentiment, stronger recent listings, and the imminent expiry of Sebi approvals.”.

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In April, Sebi had provided a one-time extension to companies whose IPO approvals were due to expire between April 1 and September 30, 2026, allowing them to use the approvals until September 30.

Normally, companies are required to launch their public issues within 12-18 months of receiving Sebi’s observation letter, which allows them to proceed with the issue. The regulator extended the validity of these approvals, citing geopolitical tensions and heightened market volatility that had delayed several fund-raising plans. Of the 161 companies that currently have valid IPO nods, approvals for 35 companies are set to expire on September 30, 2026, according to the data from Prime Database. Companies risk fresh regulatory clearance if the issues aren’t completed by the deadline.