Hedging demand cools down, and the dollar retreats from three-month highs

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Deep Tide TechFlow News, March 4 — According to Jintou Data, the US dollar retreated after reaching a three-month high on Tuesday. The dollar’s earlier rise was mainly driven by safe-haven capital inflows and rising oil prices due to the US-Iran conflict. J.P. Morgan economist Mohit Kumar stated in a report that news of Trump proposing to insure ships passing through the Strait of Hormuz, along with potential countermeasures by Gulf countries against Iran, boosted market sentiment, leading markets to hope that the war could end sooner. Meanwhile, Federal Reserve Governor Williams said that cooling inflation could provide room for further rate cuts in the future. Investors are currently paying attention to upcoming US economic data, including the ADP private sector employment report at 21:15 Beijing time and the ISM services index at 23:00.

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