The USD index rebounded above 98.000 following a robust April jobs report and escalating Middle East tensions that drove Brent above $105. Meanwhile, the GBP weakened as UK Prime Minister Keir Starmer faces potential leadership challenges.
Key Takeaways
- 1.The US dollar rebounded above 98.000, supported by the rejection of peace proposals in the Middle East and a stronger-than-expected nonfarm payrolls report.
- 2.Middle East tensions remain high as both the US and Iran rejected peace plans, pushing Brent crude prices back above USD 105/barrel.
- 3.The British pound is under pressure as UK Prime Minister Keir Starmer faces internal leadership challenges following poor local election results.
Table of Contents
- USD: Fallout from Middle East peace plans & latest NFP report in focus
- GBP: PM Keir Starmer on shaky ground but how long can he cling on?
- KEY RELEASES AND EVENTS
- CERTIFICATION
- LEGAL ENTITIES AND BRANCHES
- GENERAL DISCLAIMERS
- COUNTRY AND REGION SPECIFIC DISCLAIMERS
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Authors
Lee Hardman
Securities
DXYBrent CrudeGBPUSDEURGBP
Themes
Strait of Hormuz Geopolitical RiskUS Labor Market ResilienceUK Political Leadership Uncertainty
Regions
North AmericaUKMiddle EastUnited StatesUnited KingdomIran