Fed Chair Powell faces Congress as dollar drops 0.94% after Israel-Iran ceasefire
Key Points
- The dollar plunged after a Middle East ceasefire, with major...
Peace broke out in the Middle East yesterday, and the dollar immediately threw a tantrum. The Israel-Iran ceasefire announced late June 23rd sent the greenback tumbling faster than a day trader's account after missing a stop-loss order.
The dollar's weakness was comprehensive - down 0.94% against the New Zealand dollar, 0.78% versus the yen, 0.74% against the Aussie dollar, and 0.66% against the British pound. It's almost like the dollar was secretly hoping for more geopolitical drama to maintain its safe-haven status.
When Peace Breaks Out, Portfolios Break Up
Stock markets celebrated ...
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