FX Files – ECB on Tap

FICC Strategy Reports

It is a relatively quiet start to the North American session with the greenback very little changed from yesterdays levels (DXY: 98.76, -0.05% OTD). Oil continues to grind higher, now with Brent trading at $102.00 (+0.76% OTD), and WTI at $97.06 (+1.08%). The market is pricing in a longer war as Iran stands ready to keep fighting until they are confident that the US will no longer be an existential threat. Both Vance and Rubio have suggested that the conflict may last over the remainder of Trump’s term.

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