Dollar Keeps Climbing the ‘Wall of Worry’
The dollar is holding near a two-week high, boosted by safe haven demand and a diminishing sense of conviction in a steep rate-cutting cycle from the Federal Reserve. Oil prices are still grinding higher as investors await an expected Israeli retaliation for Tuesday’s Iranian missile attack, and risk appetite remains suppressed across the financial markets. Both the West Texas Intermediate and Brent crude benchmarks are sitting on circa-1.5-percent gains, North American equity markets are setting up for a weaker open, Treasury yields are climbing, and the dollar is the only major currency sitting on gains for the last day. Incoming...