Market Information Friday 28 November 2025

The dollar is on course for its worst week since late July due to increased expectations for monetary easing by the Federal Reserve. In Asia, the yen fluctuated amid weakness, increasing the likelihood of Finance Ministry intervention. The Bank of Japan has avoided rate hikes despite inflation above target, with tightening expected to resume in the coming months.

The UK government has softened plans to enhance worker protection against unfair dismissal by extending the qualifying period for new rights from the first day to six months after starting a job. This decision followed discussions with businesses concerned that initial proposals would complicate hiring. Unions had mixed reactions: they welcomed the reduction from the current two-year waiting period for dismissal rights and new provisions like day-one sick pay and paternity leave from April 2026. However, the Unite union criticized the bill for not banning zero-hours contracts and fire-and-rehire practices. The bill is a key Labour manifesto pledge aiming to eliminate exploitative practices. Business groups supported the amendment and highlighted the need for ongoing dialogue on topics like guaranteed hours contracts. Most changes will take effect no earlier than 2026, with commitments that variations can only occur through primary legislation and lifting of the compensation cap.

Dutch industrial selling prices slightly decreased in October, as reported by the Statistics Netherlands. There was a 0.1% decline compared to October 2024, following a 0.6% increase in September year-over-year. The price development of crude North Sea Brent oil, which typically has a strong influence on these prices, fell significantly, with the price reaching 55 euros per barrel in October, 20% less than a year before. On a monthly basis, selling prices decreased by 0.5%, with foreign market prices dropping by 0.7% and domestic market prices by 0.1%.

The 6M Euribor is unchanged at 2.12% compared to previous business day. The 10Y Swap is unchanged at 2.73% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.