The US Dollar rallies for a fourth straight day this week.
Tensions in the Middle East together with political comments in Japan are firing up Dollar inflows.
The US Dollar Index tests the upper band of its September range and could pop above it if current conditions hold.
The US Dollar (USD) trades firmly stronger again on Thursday, fuelled by safe-haven flows due to increased geopolitical tensions in the Middle East, a weaker Japanese Yen (JPY), and diminishing chances of another large interest-rate cut by the US Federal Reserve (Fed) in November.
The US Dollar already received a nudge higher this Thursday in Asian trading after new prime minister Shigeru Ishiba said on Wednesday that the economy isn’t ready for another interest-rate increase, sending the JPY lower. The turmoil in Lebanon is also underpinning the Greenback with safe-haven inflows.
The economic calendar is ready for another very full day. Besides the weekly Jobless Claims, markets brace for the S&P Global Services Purchasing Managers index and the Institute for Supply Management (ISM) September numbers.
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