Yen-tervention Watch, Dollar Declines, and Cold Weather Drives NatGas | The Opening Trade 1/26/2026

The dollar extends its selloff on Monday as speculation swirled that the US could coordinate intervention with Japanese authorities to support the yen. Traders are on heightened alert for authorities intervening in Japan as Prime Minister Sanae Takaichi says the government is ready to take action. Continued global uncertainty drives gold beyond $5,000-an-ounce. Natural Gas prices soar on both sides of the Atlantic with freezing weather sweeping across much of the US, boosting heating demand and disrupting supplies.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.

Chapters:
00:00:00 – The Opening Trade
00:00:20 – Markets Check
00:01:28 – Yen Intervention Risk
00:03:32 – Metals Rally, US Shutdown Risks
00:06:26 – US Natural Gas Soars
00:11:02 – Trump Threatens Canada with 100% Tariffs
00:11:49 – UK Prime Minister Blocks Potential Rival Burnham
00:15:22 – Japan Assets Check
00:27:45 – Yen, US Dollar
00:30:50 – Dollar Falls Amid Yen Intervention Risk
00:39:06 – Dollar Decline Doesn’t Need State Help: 3-Minutes MLIV
00:46:55 – Stocks to Watch: Volkswagen, RyanAir, Miners
01:04:06 – RyanAir CFO on Elon Musk
01:09:09 – Winter Storm Hits East Coast
01:13:36 – Minneapolis ICE Shooting, GOP Dismisses Shutdown Threats
01:20:05 – Synthesia CEO Riparbelli on AI Avatars
01:31:06 – Novo Nordisk Fiscal Year Outlook, Oral Wegovy Data
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