On Tuesday, global markets turned their gaze to the U.S. dollar, which edged up amid fresh geopolitical overtones. Following a high-stakes White House meeting, U.S. President Trump pledged to support Ukraine’s defense as long as peace negotiations unfold. The currency’s climb—to about 98.19 on the index—is a telltale sign of investors seeking shelter during uncertain times.
Equity markets held firm, hovering close to record highs, while attention shifted to the Jackson Hole symposium. Fed Chair Jerome Powell’s speech looms as a critical moment for rate outlook clarity. The euro moved sideways at around $1.1656, as both the yen and pound softened.
Meanwhile, digital assets slumped—Bitcoin and Ether took another leg downward after recent highs. In Asia, Japanese bond sales reflected dull demand, softening Tokyo equities. The Australian dollar dipped a touch, despite upbeat consumer sentiment, while the Hong Kong dollar bucked trends—strengthening on surging interbank rates. The New Zealand dollar and pound steadied, edging near their recent lows.
Markets found themselves in a state of cautious calm: watchful, but not panicking—balanced between geopolitical apprehension and steady anticipation of central bank direction.
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