Dollar Posts Best One-Week Gain in Nearly a Month, EUR and GBP Rise

U.S. dollars posted a near-month best one-week gain as the week opened with the nomination of Kevin Warsh as next Fed Chair, perceived as hawkish and pricing in potential reduction of asset purchases. The dollar index (DXY) closed at 97.68, -0.15%, but rose 0.7% for the week, the best since early January. Global equities fell in the week to their largest decline since late November, with investors weighing AI spending and potential sectoral disruption. The week ended with DXY near a one-month high as risk-off sentiment lifted the greenback. EUR/USD rose 0.4% to 1.1820 after ECB held rates; ECB President Lagarde signaled no near-term easing. GBP/USD gained 0.6% to 1.3618 after the BoE maintained policy but with a narrow vote split. USD/JPY was nearly flat at 157.06, up 1.5% for the week, as Japan's House of Representatives election看好conservative victory that could expand fiscal stimulus. Key prices as of Feb 7, 6:10 EST: DXY 97.61, -0.33; EUR/USD 1.1822, +0.36; GBP/USD 1.3616, +0.58; AUD/USD 0.7019, +1.08; USD/CAD 1.3655, -0.28; USD/JPY 157.10, +0.04.