A full-scale Middle East conflict is unlikely but any further escalation of tensions would have significant adverse consequences for commodity markets and inflation, affirming geopolitical developments as a core economic challenge globally.
The US dollar continues to see a lot of upward pressure against the Japanese yen, as the interest rate differential continues to favor the greenback, especially on Wednesdays, when the swap is triple.
The Aussie dollar rallied early during the session on Wednesday, as we continue to see a lot of volatility.
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