USD firms into month-end as Fed signals, Nvidia earnings and GDP lift stocks

US equity indices closed the week higher, supported by Nvidia's earnings results, fresh policy signalling from the Federal Reserve and the latest GDP release, a combination that kept the dollar broadly supported into month-end rebalancing flows. Firmer growth data and hawkish Fed commentary lifted front-end Treasury yields, a dynamic that historically weighs on EUR/USD and GBP/USD while supporting USD/JPY, given the yen's high sensitivity to US rate differentials. Risk-positive equity performance has partially offset dollar strength for high-beta currencies such as AUD/USD and NZD/USD, leaving those pairs range-bound rather than directionally driven. For traders, the key takeaway is the divergence between resilient risk appetite and a repricing of Fed policy toward a less accommodative path, which favours carry-supported dollar longs against the yen and franc. Attention now turns to upcoming inflation and labour market releases, which will determine whether yield support for the dollar extends. Month-end flows can distort price action, so confirmation on the following week's opening ranges is advisable before committing to directional positions.