 Markets were adrift last week as traders grappled with intensifying global risks. The unresolved twin threats of a full-blown trade war and escalating Middle East conflict kept investors on the defensive. Despite some tentative diplomatic efforts, neither front showed meaningful progress, leaving equities vulnerable after months of sustained gains. With investor confidence fraying, global indexes may soon face deeper corrections. Amid the cautious mood, Dollar took the lead, buoyed by Fed’s policy hold and slower projected easing. Yet beneath the surface, Euro is gaining traction on improving confidence in the Eurozone economy, and divergence of ECB policy and other central banks. In the week’s performance table, Euro and Aussie followed the greenback near the top. At the other end, Yen underperformed the most as doubts on BoJ rate hike grew. Sterling struggled on soft UK data, while Loonie also underwhelmed. Swiss Franc and Kiwi held to the middle of the pack. | 
