The USD is lower vs the major currencies to start the North American session and the new trading week.
The declines come after sharp gains in the dollar on Friday as yields moved higher, and stocks moved sharply lower with the NASDAQ index losing over 1100 points on geopolitical concerns and a stronger than expected US jobs report
Fed funds futures are now leaning toward tightening – not easing – in 2026. The strong labor market and rising energy prices have pushed the market to price a meaningful probability of at least one rate hike this year, while expectations for rate cuts have largely disappeared. Having said that, the tone has improved this morning.
Pres. Trump has posted on Truth Social: Both sides, Israel and Iran, are looking to do an immediate CEASEFIRE! Final negotiations on “Peace” are proceeding, subject to ignorance or stupidity getting in its way.