The opening of a new front in the conflict between Israel and Iran has brought geopolitical risk straight back into the foreign exchange calculus. After the Israeli strikes Friday morning, the dollar witnessed an element of the “flight-to-safety” characteristic traditionally associated with military escalation but as ING points out in its daily research note,

Israel has taken a huge gamble with what it is calling Operation Rising Lion.

Israeli Prime Minister Benjamin Netanyahu has long identified Iran as its greatest threat, citing the country’s nuclear program, its hostile rhetoric and support for anti-Israel proxy groups across t...

Wholesale data showed milder inflationary pressures while Trump renewed his threat to impose "take it or leave it" tariffs on trading partners.

"Expectations of fewer previously expected ECB rate cuts have lent some support to the euro," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. That contrasts with the likely resumption of a Fed easing cycle later this year, and as Trump has repeatedly called for U.S. rates to be lowered.