The Eurodollar fell to an almost three week low after Thursday’s European Central Bank decision to cut interest rates by the expected 25 basis points.
The British pound fell sharply against the greenback, with the pair hitting a more than two week low after US CPI Inflation data came in on target midweek.
The USD/JPY climbed to an almost three week peak ahead of this week’s Bank of Japan interest rate decision. The bank is widely expected to maintain rates at 0.25%.
Gold prices edged higher in a volatile week that saw the precious metal hit a five week peak. But gold surrendered most of those gains by Friday’s close, following the release of US PPI data, which came in higher than expected.
Stock prices were mixed overall but tech stocks on the NASDAQ index climbed for the fourth straight week, amid hopes that the incoming Trump administration will conduct business friendly policies, such as tax cuts.
Crude oil prices jumped to their highest level in almost three weeks after the EU and US undertook further measures to restrict Russian oil supplies.