June 26, 2025
The dollar's response to Israel's strikes on Iranian nuclear facilities and military commanders, followed by Tehran's initial threats and retaliation, was pretty feeble
The prospect that Tehran might choke off the Strait of Hormuz - the world’s most important gateway for oil shipping - raised broader economic concerns
Trump threats, Beijing's rejection of criticism, and a US court ruling complicate simmering trade tensions
Senior Trump administration officials say they are undeterred by court challenges and expect to prevail on appeal or to employ other powers to ensure tariffs stay
Markets welcome what appears to be easing trade frictions between the US and Europe while global bond markets settle after a scary surge in long-term yields
After Moody's last week downgraded its US debt ratings, investor attention this week has honed in on the country's $36 trillion debt pile and a tax bill that could add to it
S&P 500 futures up 1.1%, and Nikkei is seen higher. Dollar is modestly firmer on safe haven currencies
EU membership talks influence Ukraine's currency considerations
