The US dollar fell Friday, on track for a hefty weekly loss in the wake of hot inflation data and after President Donald Trump delayed imposing reciprocal tariffs on major U.S. trading partners.

At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower to 106.815, dropping to a three-week low and on course for a loss of around 1% this week.

Gold prices moved little in Asian trade on Friday, remaining close to record highs even as U.S. President Donald Trump postponed plans for reciprocal tariffs, sparking a risk-on move in financial markets.

But steep losses in the dollar aided gold, as the greenback gave up a bulk of its recent gains on Trump’s move. The dollar was also dented by some mixed inflation data, which drove up optimism over lower interest rates this year. 

Oil prices fell Thursday as U.S. President Donald Trump talked up a potential peace treaty between Russia and Ukraine, which could potentially free up Russian oil supply curbed by U.S. sanctions. 

At 09:00 ET (14:00 GMT), Brent oil futures expiring in April fell 1.3% to $74.22 a barrel, while West Texas Intermediate crude futures fell 1.3% to $70.44 a barrel.

Bitcoin remained muted on Thursday, steadying after a broader rise in risk-driven markets as U.S. President Donald Trump talked up the prospect of a peace treaty between Russia and Ukraine. 

The flat price performance comes amid concerns over sticky U.S. inflation, especially following a hotter-than-expected consumer inflation reading. Bitcoin had slid below $95,000 in the wake of the reading.

The world’s biggest cryptocurrency slipped 0.2% to $95,768.0 by 10:11 ET (15:11 GMT). 

The US dollar retreated Thursday, with the euro rallying, on raised hopes of an end to the Ukraine-Russia war after U.S. President Donald Trump held talks with the leaders of both of the involved countries.

At 04:25 ET (09:25 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower to 107.590, sliding to its lowest since Feb. at 107.49, after rising as high as 108.52 in the previous session.

Gold prices were slightly higher Wednesday, but upside was kept in check by easing geopolitical tensions as U.S. President Trump said that Russian President Vladimir Putin had agreed to start talks to end the Ukraine war.

At 5:00 p.m. ET (22:00 GMT), Spot gold rose 0.2% to $2,904.24 an ounce, while gold futures expiring in April fell 0.1% to $2,928.95 an ounce. 

On Wednesday, the U.S. dollar saw a significant increase following the release of consumer price data indicating a higher-than-anticipated rise in January.

This development has led to expectations that the Federal Reserve may maintain elevated interest rates for an extended period to address persistent inflationary pressures.

Gold prices eased Tuesday after hitting fresh record highs as investors weighed he persistent concerns over increased trade tariffs under U.S. President Donald Trump fueled safe haven demand. 

The yellow metal vastly outpaced other metals, shrugging off strength in the dollar after Trump signed orders imposing 25% tariffs on all steel and aluminum imports to the U.S.

The US dollar steadied Tuesday after US President Donald Trump levied tariffs on metal imports, prompting demand for the safe haven currency amid concerns over a brewing trade war.

At 03:50 ET (08:50 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded largely flat at 108.200.

Oil prices rose nearly 2% on Monday after posting their third straight week of losses, even though investors remained worried that U.S. President Donald Trump might start a trade war.

Brent crude futures settled at $1.21, or 1.6%, at $75.87 a barrel, while U.S. West Texas Intermediate crude rose $1.32, or 1.9%, to $72.32.