FX Weekly Recap: September 15 – 19, 2025

After months of speculation, the Federal Reserve finally pulled the trigger on their first rate cut in nine months, as widely expected by currency traders. But that was just the appetizer. Between the Loonie surprisingly taking the top spot, the dollar doing its best impression of a seesaw, and unexpected central bank moves from Ottawa to Tokyo, this week had more plot twists than a telenovela. Buckle up—here’s how it all unfolded.