Dollar Drifts, No Respite for Yen After BOJ Hikes Rates as Expected
The greenback weakened as a U.S.-Iran agreement eased oil and yield pressures, while the Bank of Japan raised rates to a 31-year high.
- On Monday, President Donald Trump announced that the United States and Iran signed a preliminary agreement to end the war in the Gulf, causing the U.S. dollar to hit a 10-day low.
- According to reports, the agreement would reopen the Strait of Hormuz and extend a ceasefire for a 60-day negotiation period, with an official signing ceremony scheduled for Friday in Geneva.
- Tuesday's Bank of Japan rate hike to 1%, a 31-year high, sent the yen teetering near the closely watched 160 level as markets priced policy responses to the peace deal.
- Traders are watching Fed Chair Kevin Warsh's tone at Wednesday's press conference, as the Federal Reserve is expected to hold rates between 3.5% and 3.75% while potentially dropping its easing bias.
- Reports suggest deep mistrust persists, with investors requiring safe, insured shipping through the Strait of Hormuz before confidence fully returns and supply chain questions cease weighing on markets.
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Dollar Stays Near 10-Day Lows as Iran Peace Efforts Boost Market Confidence and BOJ Signals Further Tightening
The U.S. dollar hovered near its lowest level in more than a week on Tuesday as investors embraced riskier assets following a preliminary agreement aimed at ending the conflict involving Iran, while attention increasingly shifted toward a packed week of central bank meetings that could shape the direction of global financial markets
The dollar extends its fall in a day marked by market optimism in the face of the peace agreement between the United States and Iran. A conflict that supported the rise of the dollar in the world and the weakness of the Chilean peso. The United States currency fell $5.10 compared to the closing of this Friday and reached a value of $893 the unit, its lower value since June 2 of this year ($888). If it continued like this, the currency would scor…
Silvia Riveiro reviews the current situation in Radio, in a day marked by the corruption of the government and the pact between the US and Iran.
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