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U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
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Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
U.S. stock futures edged lower Tuesday night as geopolitical tensions flared and markets braced for the Federal Reserve’s upcoming interest rate decision. The declines followed a modestly weaker Wall Street session, as reports surfaced suggesting the U.S. may consider direct military involvement in the growing Israel-Iran conflict.
As of 20:10 ET (00:10 GMT), S&P 500 futures fell 0.3% to 6,024.0 points, Nasdaq 100 futures dropped 0.3% to 21,897.25, and Dow Jones futures declined 0.3% to 42,446.0.
During Tuesday's regular session, the S&P 500 dropped 0.8%, the Nasdaq Composite lost 0.9%, and the Dow Jones Industrial Average slid 0.7%. The pullback came as President Donald Trump reportedly convened a 90-minute National Security Council meeting, weighing military options against Tehran. According to The Wall Street Journal and Reuters, the U.S. is sending additional fighter aircraft to the Middle East and extending current deployments.
In a social media post, Trump demanded Iran's "unconditional surrender," claiming U.S. forces had "complete and total control over the skies over Iran." While the Pentagon described the buildup as defensive, the market remains on edge over the potential for a broader conflict.
Meanwhile, investors are closely watching the Federal Reserve’s two-day policy meeting, which concludes Wednesday. While economists expect interest rates to remain in the 4.25%–4.50% range, attention will center on Fed Chair Jerome Powell’s comments, especially after a softer-than-expected May CPI report raised hopes for a dovish tilt.
With rising geopolitical risks and uncertainty over monetary policy, market volatility may persist. Traders remain cautious, balancing concerns over potential U.S.-Iran escalation with anticipation of the Fed's policy outlook.
