Welcome to another fog of war week. The current situation has taken a tilt for the worse after the optimism of late last week. Weekend: Iran has re-tightened control over the Strait of Hormuz over the past 24–48 hours, effectively reversing a brief reopening seen during the recent ceasefire window and pushing the US-Iran standoff back into escalation territory….
USD/JPY edges lower on Friday as the Japanese Yen (JPY) strengthens against a softer US Dollar (USD), with easing Oil prices providing additional support, given Japan’s heavy reliance on imported energy. At the time of writing, the pair is trading around 158.18, down 0.61% on the day. Despite the decline, the pair remains largely range-bound within a one-month range…
Headlines: Markets: Brent crude down 3% to $96.40 WTI crude (May contract) down 3.5% to $91.30, WTI crude (June contract) down 3.5% to $88.00 June contract for WTI has more open interest and volume, provides a better read on “front-month” price S&P 500 futures up 0.2%, major indices in Europe up 0.1% to 0.5% US dollar mixed but lightly…
The US Dollar Index (DXY) is losing momentum near 98.00 as safe-haven demand fades on the reopening news, but downside remains limited amid lingering geopolitical risks. Markets are experiencing fluctuations between relief and renewed caution as developments around the Strait of Hormuz continue to evolve. Earlier reports confirmed that this vital Oil chokepoint is “fully open and ready for…
Iran re-closed the Strait of Hormuz over the weekend, setting up a pivotal week as Islamabad peace talks, Warsh’s testimony, and US retail sales collide simultaneously.
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United States (US) President Donald Trump just confirmed on Truth Social that US representatives are going to Islamabad, where negotiations with Iran will take place on Monday. However, he also ranted on Tehran’s decision to re-close the Strait of Hormuz, and once again, threatened to destroy all Iranian power plants and bridges. Iran decided to fire bullets yesterday in…
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MUFG’s Senior Currency Analyst Lloyd Chan notes that improved diplomatic signals in the Middle East have boosted risk sentiment, softening the US Dollar (USD) and supporting Asian FX. However, high US front-end yields still underpin the Dollar, and bond markets remain cautious. Chan highlights that Asian currencies have rebounded on expectations of a quicker resolution, but warns recent gains…
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