The Eurodollar pushed to a three year high after a US brokered ceasefire between Iran and Israel took hold and the dollar declined.
The British pound surged to a more than three year peak after weaker US GDP data increased the possibility of a July interest rate cut.
The USD/JPY pair sank as speculation built that the Bank of Japan will soon order a rate hike, as the greenback weakened against its rivals last week.
Gold prices fell close to a one month low, marking one of its worst weekly performances this year. This followed a statement from President Trump last week that the US had discussed a trade framework with China, easing trade fears.
U.S. stock prices jumped to record highs driven by signs of progress in trade talks between Washington and Beijing and the conclusion of conflict in the Middle East. NVIDIA surged to a record peak on improved risk sentiment and reclaimed its position as the world’s most valuable company from Microsoft.
Oil prices plunged after Iran and Israel agreed on a ceasefire, but rebounded slightly after falling inventories in the United States underpinned the commodity.