Dollar Volatility Peaks as Gulf Hostilities Resume

The US dollar has been trading erratically in recent weeks due to resuming and pausing hostilities in the Middle East.

This geopolitical whiplash, combined with mixed US data, has left traders unsure whether the Federal Reserve views the Gulf shock as inflationary or growth-destructive.

The Fed's Jackson Hole symposium is set to be a key focal point in August, where investors will seek guidance on the second-half rate path.