US FX WRAP: Dollar erases earlier weakness as questions remain around Hormuz traffic flows despite Iran's reopening
Context
The dollar's recovery amidst uncertainty over traffic flows through the Strait of Hormuz highlights the geopolitical risks still at play, even with Iran's reopening. This situation could bolster safe-haven demand for the dollar, as traders assess the potential for disruptions that might impact oil supply and, by extension, global markets. Watch how this tension may influence market sentiment and positioning in FX, commodities, and equities.
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