The Eurodollar increased after President Lagarde of the European Central Bank suggested Thursday’s decision to cut interest rates by 25 basis points could be the last for some time.
The British pound climbed to its highest level since February 2022 as the dollar traded lower against most of its peers, despite stronger-than-expected Nonfarm payrolls data on Friday.
The USD/JPY rose to a ten-day high as traders moved away from the safe-haven yen following a conversation on trade between President Trump and President Xi of China.
Gold prices were broadly unchanged over the week as investor confidence improved and higher-than-expected US employment data pressured the metal lower.
U.S. stocks rose to three-month highs by the end of the week amid continued strength of the US economy. However, an extraordinary public fallout between President Trump and Tesla CEO Elon Musk pressured Tesla’s stock price lower on concerns it could lose some of its government contracts.
Crude oil prices tested a two-month high on Friday as the markets toasted a largely robust US economy amid falling inventories last week.