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Oil heads higher as US-Iran peace talks in stalemate
- On Monday, Brent crude futures rose more than 1% to above $106 a barrel after President Donald Trump rejected a peace deal with Iran aimed at resolving their conflict and reopening the Strait of Hormuz.
- The US-Iran standoff pushed up oil prices and Treasury yields, buoying the dollar near a two-month high as investors prepared for a data-packed week to gauge Federal Reserve policy direction.
- "Data could re-emerge as a primary driver for the dollar this week," said ING FX strategist Francesco Pesole, as traders priced in four quarter-point interest rate hikes over the next 12 months.
- Japan's top currency diplomat Atsushi Mimura said on Monday that markets should take at face value the "very clear" message Tokyo and Washington delivered last week on the yen, which rose as much as 0.4%.
- "The greenback could overshoot in the near term if energy market tensions persist and inflation risks continue to build," said OCBC FX strategist Sim Moh Siong, with the bank's base case remaining a moderate dollar rally into year-end.
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285 Articles
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Total News Sources285
Leaning Left23Leaning Right41Center48Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 20%
C 43%
R 37%
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