Dollar Falls Against Franc on Easing Safe-Haven Demand
The US dollar has fallen against the Swiss franc as safe-haven demand eases. The US had halted strikes on Iran due to concerns over depleting interceptor supplies and a shrinking list of remaining targets.
General Dan Caine, Chairman of the Joint Chiefs of Staff, cautioned President Trump that continuing the military campaign would severely strain critical munitions reserves.
However, market participants remain cautious about potential supply disruptions after Iran-backed Houthis in Yemen claimed responsibility for attacks on Saudi Arabian facilities along the Red Sea.
The Federal Reserve is expected to hold interest rates steady before resuming rate hikes in September. Investors are closely watching upcoming economic indicators, including advance Q2 GDP data and PCE inflation figures, for further insight into the underlying strength of the economy.