Forex
US and Iran Escalate Tensions in Surprise Strike Exchange
The US and Iran have exchanged strikes for the first time in about a month. American forces hit Iranian rocket launchers, prompting the Islamic Republic to fire missiles towards Jordan.
The escalation comes as traders are increasingly betting on a quarter-point Fed rate hike next month. Federal Reserve Chairman Kevin Warsh has reaffirmed his commitment to taming inflation, which has outpaced the central bank's target for five consecutive years.