Forex
Dollar firms as the market leans into a risk-off trade
The greenback gains against most major currencies while commodity FX softens.
The Dollar index rises 0.3% to 101.282 as traders lean into a more defensive setup. That move comes alongside higher Treasury yields and a jump in oil, a combination that tends to support the dollar relative to other majors.
EUR/USD falls 0.4% to 1.1386, while GBP/USD drops 0.5% to 1.3348. USD/CHF rises 1.0% to 0.8146, one of the stronger dollar moves of the day. USD/JPY inches up 0.1% to 162.44.
Commodity and risk-sensitive currencies are softer. AUD/USD slips 0.3% to 0.6922 and USD/CAD edges down 0.1% to 1.4152. USD/ZAR rises 0.8% to 16.4503. USD/KRW falls 0.6% to 1497.02, but USD/CNY dips 0.3% to 6.7709 and USD/MXN slips 0.1% to 17.5209.
FXStreet headlines point to the same setup, with the euro sliding as Waller warning and Iran strikes lift the U.S. dollar. The tape matches that read: higher oil, higher yields, stronger dollar.