USD in focus as oil tops $100, lifting yields and Fed rate hike concerns
The source reports no currency price moves, pip figures or technical levels. On September 9, persisting hostilities in the Middle East pushed crude oil prices above $100. The energy price shock pushed bond yields higher and dampened global market sentiment. It also renewed concerns about a rate hike by the Federal Reserve, ahead of key US data releases. The main transmission channels are the inflationary impulse from energy prices, rising yields and shifting Fed expectations. For traders, Fed repricing and the upcoming US data are the main factors for USD direction. Further Middle East escalation or de-escalation will likely keep oil at the center of cross-asset sentiment.
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