The Eurodollar fell to a near three-week low last week after stronger US data supported the greenback. Additionally, the US administration appeared to retract earlier reports suggesting that Fed Chair Powell could be removed for not cutting interest rates quickly enough.
The British pound pulled back against the rising dollar as market sentiment improved amid reported progress between the US and other countries on potential trade deals.
The USD/JPY rose sharply as demand reduced for the safe-haven yen. However, the Bank of Japan is still expected to hike rates on May 1st.
Gold prices surged to another all-time peak, but fell by the end of the week after President Trump said the US was actively negotiating with China and trade war fears eased.
Stock indexes pushed higher as markets were buoyed by mostly positive earnings results from companies like Google, with tech companies seeing most of the advances. This week giants like Facebook and Apple are set to post earnings.
Oil prices edged higher after hitting an almost three-week high amid hopes that a long-lasting trade war could be avoided. But reports suggest that if OPEC opts for further voluntary production, it could lead to an increase in the pared gains.