Markets Wait

2026-05-20 07:52:00 ET

The US dollar ( DXY ) is mostly firmer, though the Australian and New Zealand dollars are resisting the pull. The euro is trading in almost a 15-tick range on both sides of $1.16, and even with a Gilts rally spurred by lower-than-expected inflation, sterling is struggling to recapture $1.34. The yen has fallen for the past seven sessions and is little changed now, in a narrow band around JPY159. There has not been intervention, but the market knows it is tempting officials. At the same time, the fragile ceasefire in Iran may end in the coming days, and this is keeping investors on edge. Oil prices are softer amid reports that three supertankers have passed through the Strait of Hormuz today....

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