
The Eurodollar declined by the end of the week after the Fed confirmed it foresees two interest rate cuts by the end of the year.
The British pound moved below the psychologically important 1.3000 level last week after the Bank of England held interest rates steady at 4.5%.
The USD/JPY climbed after the Bank of Japan kept rates steady. Bank Governor Ueda outlined that Japan’s moderate recovery remained on target, but that caution on future hikes may be necessary.
Gold prices surged to another all-time peak on Thursday. US airstrikes upon Houthi militants in Yemen and Israel’s unexpected ground offensive in Gaza saw safe haven demand for the metal.
U.S. stocks broke four successive weeks of declines and rose last week after the US administration stated it was willing to compromise on tariffs. In company news, Boeing’s stock price jumped after President Trump announced the company won the contract to build the F-47 next generation stealth fighter jet
Crude oil prices jumped after the US confirmed it would tighten oil sanctions further against Iran. Rising tensions in the Middle East also underpinned the commodity.