Dollar strength returns as USD/JPY approaches 162 and yields rebound [Video]
![Dollar strength returns as USD/JPY approaches 162 and yields rebound [Video]](https://editorial.fxsstatic.com/images/i/USDJPY-bullish-object.png)
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Kim Cramer Larsson
KCL Consult
Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.
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GBP/USD has come under renewed selling pressure in the European session on Monday, falling back to the 1.3200 region. UK PM Keir Starmer is set to announce his exit plan later today. That continues to undermine the British Pound amid renewed haven demand for the US Dollar.
EUR/USD turns south toward 1.1400 in the European trading hours on Monday. Concerns about progress for the US-Iran peace deal and expectations of higher US interest rates keep the US Dollar supported against the Euro. ECB President Lagarde is set to speak later on Monday.
Gold attracts some buyers at the start of a new week, and seems to have snapped a three-day losing streak to a more than one-week low, touched last Friday. Crude Oil prices turn lower following a modest bullish gap after mediators Qatar and Pakistan announced a formal 60-day roadmap aimed at securing a final US-Iran peace deal. This helps ease concerns around inflation and higher interest rates, offering some support to the precious metal.
Iran says it is closing the Strait of Hormuz after accusing the United States (US) and Israel of violating the ceasefire. According to Iran, the decision came over the continued Israeli strikes in Lebanon. The Iranian Revolutionary Guard Corps Navy issued a warning to all vessels: "Do not approach the Strait of Hormuz; otherwise, your security will be jeopardized."
Cardano (ADA) is trading near $0.158 on Monday after a steep 14% correction in the previous week. While on-chain data from Santiment indicates that some large holders accumulated ADA during the recent sell-off, derivatives market indicators remain mixed.
The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.
