FX.co ★ Dollar Rises After Trump’ Speech

The dollar index climbed to 99.8 on Thursday, breaking a two-day losing streak, after President Donald Trump failed to provide clarity on when the Middle East conflict might end. In a rare prime-time address, Trump said that Washington’s “core strategic objectives” in Iran were close to being achieved, but he also warned of more severe strikes on the country over the next two to three weeks, deepening uncertainty in global markets. On Wednesday, Trump had claimed that Iran’s president was seeking a ceasefire in the war, a statement that Tehran swiftly denied. The dollar was further supported by diminishing expectations of Federal Reserve rate cuts this year, as the conflict has driven a sharp rise in oil prices, fueling concerns about a potential spike in inflation.