Dollar Wobbles Amid Ongoing US-Iran Tensions Ahead of Jackson Hole

The US Dollar has started the week on a tentative footing as traders await an announcement from US Treasury Secretary Janet Bessent regarding new sanctions to be applied against Iran.

Tensions between the US and Iran remain elevated following the expiry of the 60-day interim peace window last week, with neither side showing any interest in renewing it.

This week's Jackson Hole symposium takes centre stage, where Kevin Warsh will deliver his first speech as Federal Reserve Chair. While historically a platform for important policy signals, expectations are lower that Warsh will use the occasion to telegraph the Fed's next rate decision.