From Marc Chandler at Bannockburn Global Forex:
There is one fundamental driver today and that is the Middle East war. After finishing last week on a soft note, the greenback has rallied. It is up by 0.5% or more against most of the G10 currencies. The Canadian dollar, which often performs relatively better in a strong US dollar environment is off the by about 0.1% in late European morning turnover. The Swiss franc, a traditional safe haven, is off around 0.65%. April WTI, which settled near $67 surged to almost $75.35 initially and is now around $72. Equities are mostly lower.
The fog of war coupled with the decapitation blow to Iran makes the end-game difficult to envision now. The conflict is much broader than last June’s strike, which the US claimed had destroyed Iran’s nuclear capability. Reports suggest the White House is warning the war can continue for a few weeks....
....MUCH MORE
