FX Weekly Recap: November 18 – 22, 2024

November 23, 2024 1:05 am

Major currencies rode a rollercoaster of emotions this week as Russia-Ukraine tensions and central bank speculation kept traders on their toes, with safe havens like the yen catching bids on geopolitical fears and commodity currencies found support from rising oil prices and China’s new trade measures. The dollar traced a choppy path as Fed officials sent mixed signals on rate cuts, while European currencies took hits from dovish central bank commentary, escalating regional conflicts and sour business sentiment data.  Read on to see how the major currencies fared during the week and which economic reports influenced price action:

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