The EUR/USD ended the week slightly lower after hitting its highest level since June 2021. The dollar recovered after the Fed Chair nominee, Kevin Warsh, was named.
The British pound rose and traded at fresh multi month highs amid UK inflation concerns and uncertainty over future US interest rate policy.
The USD/JPY fell slightly as the yen strengthened on speculation that Japan may intervene in the currency markets to support the yen.
Gold prices stormed to all time highs of nearly $600 before pulling back sharply amid profit taking to end the week lower. The Fed kept interest rates unchanged and, while a US government shutdown was reportedly averted before Friday’s deadline.
US S&P 500 stocks ended lower as investors weighed strong earnings from major techs: Tesla, Google and Apple against risk off sentiment and concerns over future Fed policy.
Oil prices advanced to their highest levels since August, supported by tighter global supply expectations as US military forces around Iran continue to build ahead of an expected strike on the country.