USD

Good morning. The dollar is steadying and measures of implied volatility are coming down after a week of turmoil that saw global equity markets tumble and oil prices surge past $90 a barrel for the first time in more than a month. After American forces launched a ninth consecutive night of strikes and Tehran carried out reprisals against ships and targets across the region, Iranian authorities said this morning they had received proposals from mediators aimed at de-escalating tensions. Brent is down slightly to $88 a barrel and West Texas Intermediate to $82, but both are up almost 20% this...

Good morning. Risk sentiment is deteriorating across financial markets amid worsening geopolitical turmoil in the Middle East and a widening rout in technology-sector shares. Another flareup in the Middle East conflict is keeping oil prices elevated and reigniting inflation concerns. The United States launched a sixth consecutive day of strikes against Iranian targets last night, with Tehran retaliating against facilities in Bahrain, Kuwait and Syria. Brent crude is trading just above $85 a barrel, up 15% this month. Shipping through the Strait of Hormuz has again ground to a standstill, and there are growing fears that Iran’s proxies in Yemen...