The US Dollar weakened on Wednesday after retreating from a two-week peak, as lower-than-expected inflation figures reduced expectations of an imminent Federal Reserve interest rate increase.
The US Dollar was largely unchanged on Tuesday as investors assessed developments in the Iran conflict, while the Yen held steady in subdued trading following suspected intervention by Tokyo last week that had triggered a sharp rally.
The Dollar faced broad weakness on Wednesday, especially versus the Yen and the Australian Dollar, as the Japanese currency continued to gain following Prime Minister Sanae Takaichi’s decisive election victory.
The Pound edged up slightly against the Dollar on Friday but was on course for a weekly decline, as concerns over the Israel-Iran conflict boosted demand for traditional safe-haven assets like the US Dollar.
