The Eurodollar retreated to a one-month low, but regained some ground towards the end of the week despite below-expectations US inflation-linked data.
The British pound inched lower in a broadly positive week for the UK economy, with most data, including UK GDP figures, outperforming expectations.
The USD/JPY declined after jumping to a six-week high early in the week after Deputy Bank of Japan Governor Uchida suggested that interest rates are expected to continue to rise this year.
Gold prices continued to lose ground on easing trade tensions and lower-than-expected US inflation-linked data. The announced extension of a ceasefire between India and Pakistan also pressured the metal.
U.S. stock markets surged after President Trump’s Middle East visit to drum up business for the U.S. He was flanked by NVIDIA and TESLA CEOs Huang and Musk. Saudi Arabia and Qatar intend to acquire thousands of chips after committing to invest in developing their AI industries, which boosted tech stock prices.
Crude oil prices increased in a volatile week on easing trade tensions, but reports suggesting that the US and Iran were inching closer to agreeing on a nuclear deal offset further increases.