🌍 Geopolitics drives the tape
The US dollar surged to a 2-week high as Middle East safe-haven flows meet hawkish Fed repricing. WSJ reports Trump is privately weighing declaring the Iran war "over," even as the Pentagon extends troop deployments into 2027. Iran struck a US base in Kuwait with missiles and drones overnight.
💱 Forex
🇪🇺 EUR/USD at 1.1567, -0.22% – touching a multi-week low as the dollar broadens its advance.
🇯🇵 USD/JPY at 159.60 – spiked to 160.40 intraday, its highest since the July 31 BOJ intervention; Treasury's Bessent pressed BOJ chief Ueda for "decisive" action on the weak yen.
🇬🇧 GBP/USD at 1.3484, -0.24% – sterling slips as the hawkish Fed outlook lifts the dollar broadly.
🌏 Asian Markets
🇯🇵 Nikkei up only modestly – yen weakness offset by broader risk-on tone.
🇰🇷 Kospi outperforms, +1.5%.
🇨🇳 China RatingDog Services PMI beats – 51.4 vs 50.4 prior.
🇯🇵 Japan Services PMI hits 5-month high at 52.5.
🥇 Commodities
Gold at $4,386/oz, -0.23% – the stronger dollar caps the recent rebound.
Brent at $94.21, -0.46% – still near six-week highs on Hormuz and Kuwait risk, but easing on de-escalation hopes.
₿ Crypto
Bitcoin near $77,100–77,300 – still under pressure from US-Iran tensions and rate jitters.
📅 Today's watch: US ISM Services PMI, Unemployment Claims, Fed speakers Waller, Hammack, Goolsbee.
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