US-Iran deadlock pushes oil prices higher, East Eight Zone yuan slightly weakens against the US dollar
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(1) After Trump stated that Iran's response to the US proposal to end the war was unacceptable, crude oil prices rose, and the Hong Kong Dollar weakened slightly against the US Dollar during the Asian trading session. (2) Christopher Wong, FX strategist at OCBC Group Research, said that the development of US-Iran relations is a key swing factor for the market this week. (3) Wong pointed out that another surge in oil prices will reignite inflation concerns, dampen expectations for Federal Reserve easing, and weigh on energy-importing currencies, with the US Dollar trading at 1.2687 against the Hong Kong Dollar.
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