Gold Prices Tumble 3% After Hawkish Fed Speech Boosts Dollar 
Gold Prices Rebound as Fed Rate Hike Bets Rise 
Oil Prices Jump as U.S.-Iran Tensions Threaten Hormuz Supply 
Citi Sees Signs of Shift in Global Currency Policy 
UAE Central Bank Probes Banque Misr Over Iran Links 
Japan Industrial Output, Retail Sales Beat Forecasts in July 
Asian Stocks Slide as U.S.-Iran Fighting Lifts Oil Prices 
Iran Weighs Conditions to Reopen Strait of Hormuz 
France Inflation Accelerates to 2.7% in August 
Asian Currencies Mixed as Yen Nears 160, Oil Surges 
Fed Chair Warsh Faces Key Jackson Hole Test 
Asian Stocks Fall as Fed Rate Hike Bets and Iran Conflict Rattle Markets 
US Treasury Plans Weekly Iran Sanctions Push 
Oil Prices Slip as Venezuela Supply Prospects Weigh on Market 
Pentagon Eyes 100-Year Lease on Venezuela Oil Fields 
Bessent Urges G20 to Rethink China Trade Ties 
Oil Prices Jump as U.S.-Iran Tensions Threaten Hormuz 
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The U.S. dollar held close to a two-week high on Monday as investors increased bets on a Federal Reserve interest rate hike following hawkish comments from Chair Kevin Warsh, while renewed tensions in the Gulf boosted demand for the greenback.
Warsh said Friday that the Federal Reserve would “have work to do” if policymakers lacked confidence that inflation was returning toward the central bank’s 2% target. His remarks strengthened expectations that further monetary tightening could be necessary.
Markets now price in a 57% probability of a September Fed rate hike. The yield on the rate-sensitive two-year U.S. Treasury note remained near a more than one-month high of 4.33%.
Investors are turning their attention to Friday’s U.S. nonfarm payrolls report and next week’s consumer inflation data, which could play a major role in shaping expectations ahead of the September Fed meeting.
The U.S. Dollar Index slipped slightly to around 99.6 after gaining 0.6% on Friday and reaching its strongest level since August 17. Despite the recent rebound, the index remained on course for a second consecutive monthly decline.
The euro gained about 0.1% to $1.1590, while the British pound was broadly unchanged at $1.3545. Both currencies were headed toward their second straight monthly advances.
Geopolitical tensions also supported safe-haven dollar demand after U.S. forces struck Iran’s Larak Island on Sunday, the first known American strikes against Iran since late July. President Donald Trump also said Iran’s Kharg Island energy hub was being heavily attacked.
Meanwhile, the Japanese yen remained under pressure near the key 160-per-dollar threshold. It strengthened modestly to 159.78 after weakening beyond 160 on Friday, renewing speculation that Japanese authorities could intervene again to support the currency.
Markets are also watching a U.S.-hosted G20 finance ministers and central bank governors meeting on Monday and Tuesday for signals on Iran, U.S. debt and rising bond yields.
Elsewhere, China’s yuan strengthened to 6.72 per dollar after August factory data showed improvement despite continued contraction. The New Zealand dollar held near a three-month high at $0.5918, while the Australian dollar rose 0.1% to $0.7165.
