Dollar Little Changed Ahead of FOMC Meeting Results The dollar's lackluster performance ahead of the Federal Reserve's meeting is largely due to escalating global tensions rather than a response to interest rate expectations.
Crude oil prices surged by over 6% after President Trump warned that the US would "hit Iran hard," prompting investors to reassess the implications for monetary policy and market dynamics.
The Strait of Hormuz has become a flashpoint in superpower rivalry, with Oman's proposal for shared control over the strategic waterway stalled.