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According to CBS, U.S. Department of Defense officials revealed on Monday that one of the two missing U.S. soldiers in Morocco jumped into the water in an attempt to rescue the other missing soldier. As of Monday, the search and rescue operation was still ongoing.British government: The British Prime Minister stated that the UK will continue to support the defense operations of its partners in the Gulf region.Amazon (AMZN.O) CEO: We have a deep partnership with Nvidia (NVDA.O).US President Trump: The war with Iran could last another two to three weeks.① Iran 1. Iranian media: Iran has no plans to attack the UAE. 2. Iranian military official: The fire at the UAE oil facilities was caused by a US military adventure. 3. Senior Iranian official denied US claims of sinking several small boats. 4. Iran warned the UAE not to be a pawn of Israel. 5. Iranian media: The warning issued by the Iranian Army Commander to the US aircraft carrier came from a fake account. ② United States 1. Bessant: If the Iranians want to escalate the situation, the US is willing to escalate it as well. 2. Trump claimed the US sank 7 small Iranian boats, while US Central Command Commander Cooper claimed 6. 3. US Central Command Commander: More ships are preparing to pass through the Strait of Hormuz. 4. Trump: If Iran attacks US warships, it will be "wiped off the face of the earth." 5. US intelligence agencies: Recent fighting has not significantly impacted Irans nuclear program. 6. US media: Trump did not explicitly state that Iran has violated the ceasefire agreement. ③ Israel 1. Israeli officials said Israel is ready to return to fighting and is waiting for the US to "give the green light." 2. Israeli media reported that Israel raised its alert level on the 4th. ④ Strait of Hormuz 1. Iran denies any merchant ships or oil tankers have passed through the strait. 2. US Central Command: Two merchant ships flying the US flag have passed through the Strait of Hormuz. 3. A spokesperson for the Iranian Revolutionary Guard stated that ships violating the regulations in the Strait of Hormuz "will be forcibly intercepted." 4. British maritime authorities reported that three ships were attacked near the Strait of Hormuz on Monday. 5. Trump called on South Korea to join the Strait of Hormuz operation. 6. Maersk: Ships flying the US flag passed through the Strait of Hormuz under US escort. 7. French President Macron: France will not participate in the new US "Hormuz Plan." 8. Commander of US Central Command: Iran used missiles to strike merchant ships and US warships. The current focus is on getting ships out of the Strait of Hormuz, and then gradually considering allowing ships to enter the Strait of Hormuz. 9. According to Irans Mizan News Agency: A senior Iranian security source said that Irans message is clear: if the Americans attempt to advance in the Strait of Hormuz, they will become targets. ⑥ Other Situations: 1. The UAE Ministry of Defense stated that it intercepted more than ten Iranian missiles and several drones on the 4th. 2. The UAE suffered its first attack since the temporary ceasefire between the US and Iran, with three people injured in the Fujairah oil industrial area. 3. The Lebanese President stated that the timing for a meeting with the Israeli Prime Minister is not yet ripe. 4. Israel claims to have attacked Hezbollah infrastructure in Lebanon, while Hezbollah claims to have attacked Israeli military gathering points. 5. The hacker group "Handala" claimed responsibility for a cyberattack on the port of Fujairah in the UAE. 6. According to Israeli media Kann, the Chairman of the UAE Defense Council told his Israeli counterpart that the UAE would retaliate against Iran. 7. The U.S. State Departments Bureau of Consular Affairs: Our travel advisory for the UAE remains at Level 3.

USD/CHF Consolidates in a Range of 0.9320-0.9350 on Expectations of Rate Reversion to Neutral

Drake Hampton

Apr 08, 2022 09:57

Tips

  • USD/CHF remained stuck around 0.9350 despite a big increase in US Treasury yields.

  • The DXY is aiming for 100.00 as traders increase their expectations for an aggressive rate hike.

  • Russia resigns from the United Nations Human Rights Council.

 

Since Thursday, the USD/CHF pair has been swinging within a narrow band of 0.9318-0.9348 as Federal Reserve (Fed) policymakers have begun prescribing a reversion to neutral rates from ultra-loose monetary policy postures.

 

After commenting on the amount to which the Fed will raise interest rates in future monetary policies, members of the Fed's Monetary Policy Committee (MPC) have changed their focus to calling for a return to neutral policy. The ultra-loose monetary policies and helicopter money used to boost growth following the Covid-19 outbreak have served their purpose, and it would be preferable to return to normal rates and a self-sufficient economy. Atlanta Fed President Raphael Bostic stated on Thursday that while it is quite acceptable for the Fed to move policy closer to neutral, it should go cautiously, according to Reuters.

 

On the Russia-Ukraine front, Russia is expelled from the United Nations (UN) Human Rights Council after its members voted against the Kremlin's war crimes in Bucha, Ukraine. Additionally, US lawmakers have decided to prohibit Moscow from importing oil, gas, and coal. Additionally, the former has opted to revoke its 'Most Favored Nation' trade designation, resulting in higher tariffs for Moscow.

 

Meanwhile, the US dollar index is heading towards the enchanted level of 100.00, fueled by forecasts for better US Consumer Price Index (CPI) data next week. The yield on the 10-year US Treasury note has recaptured a three-year high of 2.66 percent as rate rise worries resurface.

USD/CHF

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