The yields on short-term U.S. Treasury bonds remained close to a one-month high, which caused a slight increase in the value of the dollar compared to other major currencies. This was due to comments made by Richmond Fed President Thomas Barkin, who joined other central bank officials in making hawkish statements in recent days.

The U.S. dollar index, which tracks the value of the dollar compared to six other currencies, including the euro and yen, slightly increased to 103.28, staying within its range for the week. On Tuesday, the dollar reached 103.96 for the first time since January 6th.

On Friday, the price of gold decreased, leading to a second consecutive weekly drop, as investors remained concerned about the possibility of interest rate hikes from the U.S. Federal Reserve to combat high inflation. Although gold is often seen as a way to protect against inflation, higher interest rates reduce the attraction of the metal, which does not pay interest. Gold was 0.1% lower, priced at $1,859.70 per ounce. Over the course of the week, the metal had fallen by 0.3%.

Meanwhile, oil prices went down in early trading on Friday but were still on track for a weekly increase. The market continued to fluctuate between concerns about a potential recession in the United States and expectations for a strong recovery in fuel demand in China, the largest oil importer in the world. U.S. West Texas Intermediate (WTI) crude futures dropped by 35 cents, or 0.5%, to $77.71.