If your trading week felt like trying to read a forex chart during an earthquake, you’re not alone. U.S.-Israeli military strikes on Iran over the weekend lit a fuse under global energy markets, sending oil prices toward levels not seen in nearly two years and forcing traders to rapidly reprice everything from inflation expectations to central bank policy paths. The Canadian dollar found itself in an unlikely starring role while the euro quietly absorbed most of the damage among the majors. Hawkish data landed early, a historic jobs miss landed late, and somewhere in the middle, the Strait of Hormuz essentially stopped moving tankers altogether. It was one of those weeks where the macro backdrop did most of the heavy lifting — and currencies had no choice but to follow. Here’s how each major played it.
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