The euro rose in European trading on Monday, marking its third consecutive daily advance against the US dollar, supported by sustained pressure on the greenback amid strong expectations of a Federal Reserve rate cut later this month.

Investors are now awaiting Tuesday’s release of key eurozone inflation data for August, which is expected to provide clearer signals on whether the European Central Bank will move ahead with a rate cut in September.

Price Overview

EUR/USD: The euro gained 0.25% to $1.1714, up from the opening level of $1.1685, after touching a session low of $1.1684.

On Friday, the euro closed just 0.1% higher against the dollar, extending its recovery from two-week lows, supported by stronger-than-expected inflation data in Germany, the eurozone’s largest economy.

For August, the euro advanced 2.4% versus the dollar, its seventh monthly gain in the past eight months, driven by diverging expectations between ECB and Fed policy.

US Dollar

The dollar index fell 0.2% on Monday, marking its fifth straight daily loss and hitting a two-week low at 97.66, reflecting continued weakness against a basket of major and minor peers.

Data released Friday showed US core personal consumption expenditures (PCE) rising 0.2% month-on-month in July, in line with expectations. This reinforced market conviction that the Fed will move forward with a widely anticipated rate cut at its September 16–17 meeting. According to CME’s FedWatch Tool, markets are now pricing in an 87% chance of a 25-basis-point cut, up from 63% a month ago.

European Central Bank Outlook

Five sources told Reuters that the ECB is likely to keep rates unchanged in September, though discussions of additional cuts may resume in the autumn if eurozone growth falters.

ECB President Christine Lagarde recently noted in Jackson Hole that the tightening cycle of 2022–2023 did not trigger a recession or sharp unemployment spike as had historically occurred.

Market pricing currently shows less than a 30% probability of a 25-basis-point ECB rate cut in September.

Inflation data from Europe on Tuesday will be pivotal in reshaping market expectations.

The Japanese yen fell in Asian trading on Monday at the start of the week, marking its second straight day of losses against the US dollar, as easing inflationary pressures reduced expectations for an imminent policy shift by the Bank of Japan.

With the likelihood of a rate hike in Japan later this month diminishing, investors are awaiting further signals to clarify the path of monetary policy normalization in the world’s fourth-largest economy.

Price Overview

USD/JPY: The dollar rose 0.25% to ¥147.38, compared to the opening level of ¥147.04, after hitting a session low of ¥146.84.

On Friday, the yen ended 0.1% lower against the dollar, its second loss in the past three sessions, after Tokyo inflation data came in below expectations.

Despite the recent pullback, the yen gained 2.45% in August — its strongest monthly advance since April — supported by rising expectations of at least two Federal Reserve rate cuts before year-end, alongside renewed concerns over Fed stability.

Bank of Japan Outlook

BOJ board member Nakagawa warned of risks from trade policy and said he is looking to the upcoming Tankan survey for guidance on the direction of monetary normalization.

Recent Japanese price data shows reduced inflationary pressures, giving policymakers room to maintain accommodative settings.

Market pricing currently assigns less than a 40% probability of a 25-basis-point BOJ rate hike at the September meeting.

Investors are closely monitoring incoming data on inflation, unemployment, and wages in Japan, as well as further commentary from BOJ officials, for clues on the timing of any future tightening steps.

Ethereum prices declined in Friday’s trading as pressure weighed on most cryptocurrencies, with investors assessing the latest US inflation data and its implications for Federal Reserve interest rate decisions.

Government data released today showed that the US Personal Consumption Expenditures (PCE) index — the Fed’s preferred inflation gauge — rose sharply in July. Headline PCE increased by 0.2% on a monthly basis and 2.6% year-on-year, both in line with expectations. Core inflation also accelerated due to higher prices for some goods linked to import tariffs.

Traders increased their bets on a 25-basis-point Fed rate cut at the September policy meeting, with odds rising to around 89% from 85% before the data release, according to the CME FedWatch tool.

Ethereum exchange-traded funds (ETFs) in the US recorded strong inflows for the week, sharply outperforming Bitcoin ETFs and highlighting a notable shift in investor sentiment. Data from SoSoValue showed Ethereum ETFs attracted $1.83 billion in inflows between August 21–27, compared with just $171 million for Bitcoin ETFs.

Strong inflows for Ethereum ETFs

In the latest session, Ethereum ETFs posted net inflows of $307.2 million, compared with only $81.3 million for Bitcoin ETFs. The performance marks four straight days of positive flows into Ethereum funds, while Bitcoin funds continue to struggle to sustain momentum.

Since the start of August, Ethereum ETFs have attracted about $3.7 billion, while Bitcoin funds saw outflows exceeding $803 million, including withdrawals of $1.17 billion in a single week. Despite Ethereum’s smaller market capitalization compared with Bitcoin, its ETFs have drawn ten times more inflows in just five trading days.

Institutional momentum favors Ethereum

The strong inflows have coincided with a rally in Ethereum’s price, which recently approached its all-time high near $4,950. By contrast, Bitcoin is trading around $113,000 after briefly dipping to $109,000, posting a 5% monthly loss that has dented interest in its investment vehicles.

Institutional adoption has also tilted in Ethereum’s favor, with companies stepping up purchases while Bitcoin demand has slowed. Assets under management for Ethereum ETFs rose 58% over the past 30 days, compared with a 10.7% decline for Bitcoin funds during the same period.

This trend underscores a clear shift in the investment landscape: while Bitcoin ETFs previously dominated inflows, Ethereum funds are now gaining the upper hand, reflecting growing confidence in Ethereum’s growth potential and its appeal as a preferred institutional investment.

As of 21:09 GMT, Ethereum rose 2.7% to $4,329.1 on CoinMarketCap, though it remains down 10.6% for the week.

Nuclear batteries are not a new invention, but they lost their place in commercial use back in the 1970s, when they were employed in pacemakers. These batteries were an ideal solution for such medical devices thanks to their long life, but were eventually discontinued due to government concerns about the spread of radioactive isotopes without proper tracking or retrieval. Today, a new generation of scientists is working to bring the nuclear battery back—this time with far broader applications. And while the science behind these batteries is advancing faster than ever, the key question remains whether these innovations will actually reach commercial markets.

Contrary to what the term may suggest, nuclear batteries do not operate like miniature nuclear reactors. Instead, they generate power by capturing radiation released from the decay of small amounts of nuclear fuel, such as plutonium or isotopes of nickel and hydrogen. This radiation can then be converted into electricity through semiconductors or thermoelectric devices. Most importantly, such batteries can last for extremely long periods before needing replacement.

At present, the world relies on lithium-ion batteries, which provide enormous benefits thanks to their flexibility, energy density, and ability to operate in varied conditions. These advantages have made them nearly ubiquitous—powering around 70% of all rechargeable devices worldwide. Yet lithium-ion technology has significant drawbacks. Lithium extraction is environmentally harmful and water-intensive, while supply chains remain heavily concentrated under Chinese control, leaving them vulnerable to market shocks and geopolitical risks. On top of that, lithium-ion batteries degrade quickly and require very frequent recharging.

By contrast, nuclear batteries rarely need replacement, meaning they could power even the most remote and inaccessible locations. Tyler Bernstein, CEO of Zeno Power—a venture-backed nuclear battery startup that recently raised $50 million in a Series B round—said: “With intensifying competition among great powers, the ocean floor, the Arctic, and the lunar surface are the front lines of global security and economic progress—yet they remain energy deserts. With this funding round, we are on track to demonstrate full-scale systems by 2026 and deliver the first commercially manufactured nuclear batteries to power frontier environments by 2027.”

For these reasons, nuclear batteries have become the focus of a new wave of research and development. Instead of lasting weeks or months, a single nuclear battery could run for decades before depleting. A commercially viable nuclear battery could upend countless industries and technologies, becoming something of a “holy grail” for battery developers.

The “nuclear battery race” is now underway in labs around the world. Japan and South Korea have developed prototypes, China recently announced major breakthroughs, and research labs in the UK and the US have also reported significant progress. Each research team has pursued different approaches—some based on thermoelectric technology, others on semiconductors—while employing a range of isotopes including depleted uranium, carbon-14, and copper-63.

Despite many promising models, the biggest challenge is commercialization. IEEE Spectrum noted: “The technology works, it has many advantages over chemical batteries, and it can be used safely. What most companies have failed to do is find a new market for these batteries and create a product with impact.”

The potential applications are vast—from powering spacecraft and deep-sea exploration to enabling a mobile phone that never needs charging. But that does not mean commercialization will be straightforward. As IEEE Spectrum concluded: “The markets these batteries will penetrate—if they reach the commercial stage—will depend heavily on cost, safety, and licensing issues.”