丙烷 (Propane) 加自选

美元下跌，欧洲央行在石油冲击和通胀风险上升的情况下退出美联储。美元上周完全有理由反弹，但最终却成为主要货币中表现最差的。全球股市的大幅抛售、美国国债收益率的飙升和地缘政治风险的升级通常会引发对美元的强劲避险需求。

Dollar Slides as ECB Out-Hawks Fed Amid Oil Shock and Rising Inflation Risks.Dollar had every reason to rally last week, but instead ended as the worst performer among major currencies. Sharp selloff in global equities, surging Treasury yields, and escalating geopolitical risks would typically trigger strong safe-haven demand for the greenback.

卢比跌至93.73的新低。印度卢比经历了自2022年底以来的最大单日跌幅，跌至93.73的历史低点。在西亚冲突升级的推动下，油价飙升，再加上海外投资者外流，给货币带来了巨大压力。

Rupee on shaky ground, touches fresh low of 93.73.The Indian rupee experienced its sharpest single-day fall since late 2022, plummeting to a historic low of 93.73 against the dollar. Surging oil prices, driven by escalating West Asian conflicts, coupled with overseas investor outflows, significantly pressured the currency.

美元/日元每周展望：随着利率上升和能源波动，地缘政治受到控制。美元/日元作为利率游戏的回归恰逢美国利率前景的急剧转变，市场从定价下调转向加息风险。由于这种转变是由能源和地缘政治发展推动的，它表明市场制度仍然是被动的，而不是稳定的。

USD/JPY Weekly Outlook: Geopolitics in control as rates rise and energy whipsaws.The return of USD/JPY as a rates play has coincided with a sharp turn in the US rate outlook, with markets moving from pricing cuts to the risk of a hike. With that shift being driven by energy and geopolitical developments, it points to a market regime that remains reactive rather than settled.

每周底线：美联储暂停，通胀持续。本周的数据发布和加拿大银行的声明描述了一个本可以成为现实的世界，国内背景显示出通胀缓解的迹象。伊朗战争颠覆了这一点。

The Weekly Bottom Line: The Fed Pauses, Inflation Persists.This week's data releases and Bank of Canada (BoC) statement describe a world that could have been, with a domestic backdrop that showed signs of easing inflation. The war in Iran has upended that.