Investors Keep Powder Dry In Run-Up to Fed Meeting
The dollar is giving back yesterday’s gains, Treasury yields are holding steady, and North American equity markets are moving sideways as investors await news on the US role in the Israel-Iran conflict — and brace for this afternoon’s Federal Reserve decision. Oil prices leapt higher during yesterday’s session after US president Donald Trump called for Iran’s “unconditional surrender” in a social media post, suggesting that American forces could soon join the fray, and raising the risk of a wider escalation in the war, but are now subsiding as traders monitor the newswires. The world’s most powerful central bank is widely...