The US dollar emerged as the top performer this week, largely driven by a significant breakthrough in US-China trade relations. On Monday, markets surged as both nations announced a 90-day suspension of steep tariffs, with US duties on Chinese goods dropping from 145% to 30%, while Chinese levies on US goods fell from 125% to just 10%. This trade détente immediately sparked a risk-on sentiment across markets, lifting currencies that typically benefit from improved global trade conditions like the Comdolls. The week also saw notable volatility in response to mixed inflation data, with Tuesday's cooler US CPI print initially supporting risk sentiment before Friday's University of Michigan survey showed inflation expectations jumping to 7.3%. This caused a late-week shift as markets reassessed Fed rate cut expectations, strengthening the US dollar. Commodity-linked currencies initially outperformed but gave back gains as the week progressed, reflecting the market's evolving view of the trade developments. Let's break it all down for the major currencies, shall we?