According to Jin10, the U.S. dollar softened as the conflict between the United States and Iran pushed oil prices higher, though the currency remained close to a one-week high touched overnight. Deutsche Bank analysts said in a report that gains in oil, natural gas, and other commodity prices have lifted near-term inflation expectations. Against that backdrop, investors have repriced expectations for Federal Reserve rate moves, with markets again speculating that the Fed could raise rates next week. The report ties the latest shift in pricing to higher energy and commodity costs rather than to any separate policy signal. The move left the dollar weaker on the day but still near recent highs.
According to Jin10, the U.S. dollar weakened as the conflict between the United States and Iran drove oil prices higher, although it stayed near a one-week high reached overnight.
In a report, Deutsche Bank analysts said rising prices for oil, natural gas, and other commodities have pushed up near-term inflation expectations. With that as the backdrop, investors repriced expectations for Federal Reserve rate hikes, and markets began to speculate again that the Fed could raise rates next week.
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