"The approaching deadline set by President Donald Trump for Iran has kept investors on edge, reinforcing demand for the dollar as a preferred safe-haven asset."
"Ongoing geopolitical tensions and uncertainty around the reopening of the Strait of Hormuz have sustained elevated energy prices, supporting yields and the currency."
"While the index remains in expansion territory, the unexpected decline and contraction in the employment component suggest that parts of the economy may be losing momentum."
"Attention now shifts to today's durable goods orders and job market data in addition to this week's inflation data and FOMC minutes."
The dollar maintained stability as geopolitical tensions in the Middle East influenced market dynamics. President Trump's deadline for Iran heightened demand for the dollar as a safe-haven asset. Elevated energy prices and rising Treasury yields, driven by inflationary pressures, supported the currency. The ISM Services report indicated a potential economic slowdown, which may impact the Federal Reserve's outlook. A pause in interest rates is anticipated, with upcoming durable goods orders and job market data expected to influence monetary policy expectations.
Read at London Business News | Londonlovesbusiness.com
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