The majors mostly did their own thing this week, with geopolitical headlines and scattered local data setting the tone before one event took the wheel on Friday. Trade friction, Iran de-escalation hopes, and shifting risk appetite drove most of the choppy action from Monday through Thursday.
Then Fed Chair Kevin Warsh delivered hawkish remarks at the Jackson Hole symposium during Friday's U.S. session, and the whole board lurched as traders raced to reprice U.S. rate bets. That single dollar-driven move pretty much reshaped where each market landed on the week, so a lot of the Friday action says more about the greenback than any one asset's own story. Here's how the week played out across the dollar, metals, equities, crypto, oil, and the majors.