EUR/USD has slipped toward 1.1375, extending its decline to the lowest levels since late July. The combination of widening US yield advantages and continued Middle East uncertainty is keeping demand for the dollar firm.

Gold has fallen toward $4,270 and is heading for a weekly loss of more than 2%. Higher yields increase the opportunity cost of holding non-yielding assets, while dollar strength is adding further pressure.

Energy markets remain highly sensitive to US-Iran negotiations. Tehran has previously offered to reopen the Strait of Hormuz if Washington reduces military pressure and lifts its blockade on Iranian ports. Reports of a possible phased agreement are providing some relief, although the region’s oil transport system remains costly and fragile.

USD/JPY has climbed toward 158.5 as higher US yields outweigh the effect of the BoJ’s recent rate increase, bringing the 160 area and possible Japanese intervention back into focus.

Risk appetite remains restrained, with Bitcoin near $84,000 and the US 100 Tech Index holding around 30,500. Meanwhile, the Trump-Xi summit produced only a short extension of the trade truce, leaving major issues around tariffs, technology restrictions and rare-earth supplies unresolved.