White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
The U.S. dollar slipped slightly on Tuesday but remained on track for its biggest monthly gain since July 2025, driven by its safe-haven appeal during the ongoing U.S.-Israel war on Iran. The conflict, now stretching beyond a month, has sent oil prices sharply higher, raising global inflation concerns and threatening economic growth worldwide.
The U.S. Dollar Index fell 0.6% to 99.96 by late afternoon trading, yet the greenback was still positioned for a 2.4% advance in March. The pullback came as investors shifted toward riskier equities following reports that President Trump was open to ending military operations against Iran, even if the critical Strait of Hormuz remained closed. Iran's leadership also signaled willingness to negotiate a ceasefire given appropriate security guarantees.
Soaring oil prices, triggered by the Strait of Hormuz closure and resulting supply disruptions, have forced investors to rethink interest rate cut expectations globally. Higher-for-longer rate scenarios typically support a stronger dollar, which has also benefited from the United States' position as a net energy exporter. Federal Reserve Chair Jerome Powell acknowledged near-term inflation pressures but suggested the central bank would look beyond the oil supply shock, comments analysts characterized as relatively dovish compared to other global central banks. Several institutions, including those in Australia, Japan, the Eurozone, and the United Kingdom, are expected to raise benchmark rates amid the energy-driven inflation surge.
On the economic data front, U.S. consumer confidence edged up to 91.8 in March, topping forecasts, though inflation expectations among respondents hit their highest level since August 2025. The latest JOLTS report revealed 6.88 million job openings in February, slightly below estimates, with the hiring rate falling to its lowest point since April 2020. Meanwhile, Eurozone annual inflation climbed to an estimated 2.5% in March, up from 1.9% in February, with energy costs surging nearly 5%.
