Overview
- Safe-haven buying lifted precious metals to fresh records, with gold approaching $5,000 an ounce and silver surpassing $100 as the greenback fell to multi‑month lows.
- Traders flagged sudden swings in the yen after suspected rate checks signaled Tokyo may be ready to support the currency, pushing USD/JPY sharply lower intraday.
- The Bank of Japan kept its policy rate at 0.75% in an 8–1 vote and nudged up growth and inflation forecasts, reinforcing expectations of further tightening later this year.
- The dollar was set for its worst week in a year after President Trump withdrew tariff threats tied to Europe and said he would not seize Greenland by force, prompting a broad market repricing.
- Global stocks were mixed to slightly higher into the weekend as investors looked to next week’s Federal Reserve meeting and tracked reports of subpoenas related to Chair Jerome Powell.