Weak US jobs data has rewired global trade expectations, sending the dollar lower and lifting equities to record highs. The Fed’s rate‑hike path is now cloudy, with CPI data due Wednesday poised to determine whether the dollar’s slide accelerates.

Trade Routes

• Eurozone: The EUR/USD rose to a two‑month high as markets repriced Fed hike odds, easing pressure on the single currency.
• Japan: The Bank of Japan remains split on rate hikes amid inflation...