Iran’s IRGC says cooperation with ‘aggressor enemy’ in Hormuz will delay reopening of waterway

Iran’s IRGC says cooperation with ‘aggressor enemy’ in Hormuz will delay reopening of waterway

The Iranian Islamic Revolutionary Guards Corps (IRGC) said on Tuesday that two ‘offending supertankers’ were hit and disabled in the Strait of Hormuz. IRGC said that tankers ignored warnings, turned off navigation systems and tried to pass through ‘mined route.’ The Iranian military said that cooperation with the ‘aggressor enemy’ in the critical waterway will delay reopening […]

Euro slides as Waller warning, Iran strikes lift US Dollar

Euro slides as Waller warning, Iran strikes lift US Dollar

The shared currency begins the week on a lower note, down 0.31% as risk aversion fueled flows towards the US Dollar amid heightened tensions in the Middle East. Also, hawkish comments by a Fed official underpinned US Treasury yields, suggesting markets expect the US central bank to raise rates. The EUR/USD trades at 1.1379 after […]

Stronger fix guides gradual RMB gains – OCBC

Stronger fix guides gradual RMB gains – OCBC

OCBC strategists Sim Moh Siong and Christopher Wong highlight that USD/CNH dipped after a stronger USD/CNY fix below 6.80, the first such level since February 2023. They read this as policymakers being comfortable with further RMB appreciation while managing the pace. Technically, they see mild bullish momentum in USD/CNH, with support at 6.75/76 and resistance […]