Currency Markets Await Inflation Data
The US dollar remained within a narrow range ahead of upcoming inflation data from major economies and the anticipated discussions at next week's Jackson Hole symposium, with its stability against most major currencies continuing. Signs of reduced tension in the Middle East, including the resumption of talks between Iran and Oman, helped boost risk appetite, leading to the dollar index stabilizing at 98.918. Meanwhile, oil prices fell by 2.1% after Iran announced the resumption of talks with Oman regarding the management of the Strait of Hormuz, amid stagnation in negotiations between Washington and Tehran.
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