Karen Brettell

With bitcoin trading well below its recent highs, hedge fund manager and activist investor Eric Jackson is betting that investors will still want exposure to crypto — just with less pain on the way down.

The U.S. dollar was heading for its worst weekly performance since late July on Friday as traders increased bets that the Federal Reserve will cut rates again next month.

The dollar gained on the euro and was roughly flat against the yen on Friday as stocks recovered from a sharp selloff and traders weighed whether the Federal Reserve is likely to cut rates in December.

The dollar eased on Thursday after U.S. President Donald Trump signed a deal to end the government shutdown, while the yen hit a record low against the euro after Japan's new prime minister said she wanted the central bank to go slow on rate hikes.

The U.S. dollar weakened against the euro and yen on Tuesday on concerns about the deteriorating U.S. labor market after a report showed that private employers cut jobs last month.

Risk-sensitive currencies including the Australian dollar were boosted on Monday, while safe havens like the Japanese yen dipped against the U.S. currency, as risk sentiment was boosted by signs the U.S. federal government is closer to reopening.

The yen regained its footing against the U.S. dollar in Asian trading on Friday after Japan's new finance minister said the government has been monitoring foreign exchange movements with a high sense of urgency.

The Japanese yen tumbled against the U.S. dollar on Thursday after the Bank of Japan adopted a less hawkish tone than traders expected, while the greenback was boosted after Federal Reserve Chair Jerome Powell on Wednesday said a rate cut in December was not guaranteed.

The dollar gained on Wednesday after Federal Reserve Chair Jerome Powell pushed back against market pricing for another rate cut at the U.S. central bank's December meeting, after the U.S. central bank lowered rates as expected.

The Japanese yen gained on Tuesday, rebounding from seven consecutive days of losses against the U.S. dollar, after comments from a Japanese minister and U.S. Treasury Secretary Scott Bessent eased some concerns about more expansionary fiscal and monetary policy in the country.