The Eurodollar declined, while the US dollar climbed against most of its rivals after above expectations US Nonfarm payrolls figures suggested that the US economy could resist trade related headwinds.
The British pound tested a 3 year high early in the week amid cautious optimism over the UK economy, but the pair fell by the end of the week due to mostly positive data from the US.
The USD/JPY increased and tested a three-week high as the Bank of Japan kept its interest rate at 0.5% late in the week.
Gold prices declined to a near three-week low as trade tensions eased and the dollar strengthened against its rivals. Indirect talks between the US and Iran over the latter’s nuclear deal were set to continue.
U.S. stock markets rose sharply after the Trump administration reversed some tariffs and China said it was considering a US proposal for talks. Stock prices were also boosted by strong earnings results from Microsoft, Facebook and Apple.
Crude oil prices fell to a three-week low amid reports suggesting that leading OPEC member Saudi Arabia would be willing to raise oil production which could allow prices to remain around the $60 level.