The dollar eased on Wednesday ahead of the Federal Reserve’s first policy decision under Chair Kevin Warsh, with lingering optimism over an interim US-Iran peace deal underpinning risk appetite and dampening demand for the US currency. The yen found little respite against a weaker greenback and teetered further into intervention territory, after a well-telegraphed Bank of Japan (BOJ) rate hik
Gold edged higher on Wednesday, extending gains for a fifth straight session, as optimism around the US-Iran peace deal eased concerns over interest rate hikes, while investors awaited further details on the deal and the Federal Reserve’s policy meeting. Fundamentals Spot gold was up 0.4% at $4,348.93 per ounce, as of 0107 GMT. US gold futures for August delivery rose 0.3% to $4,368.40. D
Oil prices edged higher in early trade on Wednesday, clawing back some of the previous session’s losses, as investors assessed whether the Iran war will truly end and the Strait of Hormuz reopen. Brent crude futures gained 47 cents, or 0.6%, to $79.43 a barrel, while US West Texas Intermediate rose to $76.53 a barrel, up 48 cents, or 0.6%, as of 0038 GMT. Both benchmarks fell about 5% for
Massive buying was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 4,400 points during the opening minutes of trading on Monday, as investors rejoiced over the peace deal between the United States and Iran. At 9:35am, the benchmark index was hovering at 176,767.01, up by 4,367.11 points or 2.53%. Across-the-board buying was seen in key sectors,
Share markets surged in Asia on Monday while the dollar slipped and oil prices tumbled as a tentative peace deal between the United States and Iran promised to ease inflationary pressures globally and lessen the need for higher interest rates. Pakistani Prime Minister Shehbaz Sharif said on social media early on Monday that a deal had been struck, while President Donald Trump said the agreeme