Topic: Weekly FX Report

Resilient U.S. data kept markets steady, lifting the dollar and crypto despite political noise.

Tariff letters reaffirm April 2 levels; implementation delayed to August 1. Japan’s rate rises to 25%; Brazil jumps to 50% for political reasons.

Stronger-than-expected US jobs cut Fed rate odds to 5%, while July 9 tariffs loom over stalled global trade talks.

Geopolitical tensions eased and equities rallied, weakening the dollar. Dovish Fed commentary and speculation over Powell’s succession added pressure, pushing the euro above $1.17 and lifting most G10 currencies.

Geopolitical tensions and rising oil prices lifted the dollar, while surprise rate cuts in Europe contrasted with the Fed’s hawkish tone. The BoE held steady, but soft UK data and dovish vote split signalled easing ahead.

Israel’s strike on Iran sent oil and volatility surging, overshadowing softer US inflation and tariff risks.