ASADA, a Bank of Japan policy board member, said he is not currently considering proposing a rate cut.

ONS data showed UK GDP rose 0.7% QoQ in Q3 (0.5% in Q2), matching consensus; September GDP grew 0.2% MoM versus 0.0% expected. Activity has outperformed despite the Iran war energy shock, partly driven by AI-related spending, prompting economists to raise 2024 forecasts. The print increases pressure for further tightening after the Bank of England's first rate rise in over three years last week; markets currently price a further BoE hike in December.

Foxconn says it will continue investing in electric vehicles but expects its EV business to account for a smaller share than its AI business.