Dollar on Track for Weekly Loss as Softer Inflation Data Weighs

The US dollar held broadly steady on Friday but remained on course for a weekly decline after softer US inflation data prompted traders to scale back positions, according to Economies.com. The weekly loss in the dollar coincides with a CNBC survey showing the US economic outlook is worsening, with respondents attributing the deterioration to the Trump administration's trade posture.

China signaled a possible return of US trade privileges for Hong Kong, NPR reported Friday, a development that would represent a partial reversal of tariff and commerce restrictions imposed during prior escalation cycles. Moonshot AI simultaneously unveiled its Kimi K3 model, a 2.8-trillion-parameter large language model the company describes as its most capable to date, with an open-weight release scheduled for July 27, 2026, according to the New York Times and a Simon Willison analysis drawing 242 points on Hacker News. Moonshot claims Kimi K3 rivals OpenAI and Anthropic on benchmarks, a claim that has not been independently verified against production workloads.

ASML Holding (ASML) remains under pressure from competing geopolitical demands, caught between European export control compliance and Chinese customer revenue, CNBC reported. The Kimi K3 release directly implicates that tension: the model's claimed capability at 2.8 trillion parameters, developed without access to leading-edge Western fabrication hardware, undercuts the assumption that lithography export controls constitute a durable barrier to Chinese AI progress.

Boeing (BA) received renewed FAA authorization to self-certify airworthiness certificates for the 737 MAX and 787, according to a Hacker News thread drawing 77 points citing the original FAA decision. The authorization restores a privilege previously revoked following the 737 MAX certification failures. Pentair (PNT) lowered its 2026 outlook and appointed former finance chief Bob Fishman as interim CFO, according to Smart Water Magazine.

US-Iran strikes continued into at least their seventh day as of Friday, with Cathay Pacific delaying Middle East flights in response to active US-Iran exchanges, per the South China Morning Post. China separately objected to the UK government's nationalization of British Steel, BBC Business reported, adding a bilateral friction point between Beijing and London. A cyclospora outbreak linked to iceberg lettuce at Taco Bell has been traced to farms in Mexico, according to NPR and the New York Times, drawing federal scrutiny of USDA-adjacent agricultural supply chains.