[MARKET UPDATE] USD picks up and the risk tone slips slightly as Iran says it has not yet sent a delegation to Pakistan
- Action that has seen US futures trim to gains of just 0.1% or 0.2%, vs earlier +0.4% performance. Fixed income moves to fresh lows, with USTs more convincingly in the red and Gilts under renewed pressure. For Bunds, they remain afloat but have trimmed around half of the earlier upside.
- In FX, the USD climbs to the detriment of peers. EUR/USD at a 1.1757 low, GBP/USD below 1.3500 to a 1.3485 base, and USD/JPY above 159.00 to a 159.17 peak.
Context
The modest slip in risk appetite, as suggested by a stronger USD and softer performance in US futures, indicates investor caution, likely linked to geopolitical tensions surrounding Iran's delay in sending a delegation to Pakistan. This news might signal broader regional instability, which can put upward pressure on the USD as a safe-haven asset, while weighing on risk-sensitive currencies like the EUR and GBP.
Trade the TapeGet this analysis live, the moment it breaksNewsquawk's real-time dashboard delivers market-moving headlines and instant context to your desk before the rest of the market reacts.
Open Dashboard#UNITED STATES#USD#EUR#JAPAN#JPY#UNITED KINGDOM#GBP#ASIA#EUROPE#EUR/USD#GBP/USD#USD/JPY#FOREX#FIXED INCOME#ENERGY#METALS#EU SESSION#GILTS#GERMAN BONDS#HIGHLIGHTED#WTI#COMMODITIES#GOLD#METALS & MINING#DXY#MARKET ANALYSIS#MARKET UPDATE