The U.S. dollar slipped against the euro on Friday but held on to weekly gains, as investors weighed expected Fed policy amid signs that tariffs may be starting to increase some inflation pressures and as Trump continued to criticise Chair Jerome Powell.
Cryptocurrency spot trading declined by another 22% in Q2 2025, extending its slump despite bullish market conditions. The ongoing downturn in the spot market came amid a drop in altcoin trading activity and liquidity in Q2, which contrasted with resilience in derivatives markets.
Gold prices jumped following news reports that U.S. President Donald Trump planned to fire Federal Reserve Chair Jerome Powell, but trimmed gains after Trump denied the claim. U.S. gold futures settled 0.7% higher
President Donald Trump said the U.S. will probably “live by the letter” on tariffs with Japan and may have another trade deal coming up with India, following his announcement of an accord with Indonesia.
The Canadian dollar edged lower against its U.S. counterpart, but the loonie declined less than the other Group of 10 currencies as domestic inflation data reduced expectations for Bank of Canada interest rate cuts.
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an impact on inflation and potentially keeping the Federal Reserve on the sidelines until September.
