Last week's hotter-than-expected US inflation print gave the dollar a lift that didn't stick: the move faded within sessions as markets weighed what sticky prices mean for growth versus rate expectations.
The bigger story was crude. Oil climbed roughly 8% and closed above $100, a level that historically firms CAD and pressures oil importers' currencies, with JPY crosses watching energy costs closely.
Equities added a risk-off undertone: chip stocks dragged the S&P 500 lower and the Aussie slid alongside. The commodity-currency divergence (CAD supported, AUD soft) is the cross-current to watch into this week.