Overview

• The DXY index has fallen about 9% this year to near 98, marking a 30-year trough as US asset confidence wanes.
• Israel-Iran conflict has undermined the dollar’s safe-haven appeal, directing flows into gold and other traditional havens.
• The dollar regained about 1% against the yen, euro and franc in early trade on heightened risk aversion.
• Brent crude jumped toward $75 a barrel as Middle East hostilities intensified, pressuring import-dependent currencies.
• Investors expect the Fed to pause at 4.25–4.5% later Thursday, and the BOJ also held rates, leaving tariff talks unresolved.