Firm Dollar as Perceptions Regarding Middle East Stay Hopeful
June 22, 2026
(134) The price of West Texas Intermediate crude oil fell 1.1% further overnight to $74.77 per barrel. Iranian and U.S. negotiators reportedly have worked out a plan for conducting their talks over the coming 60 days.
British Prime Minister Starmer made it officials that he will be stepping down as leader of the Labour Party. Manchester Mayor Burnham is expected to succeed him as prime minister sometime within the next 2-1/2 months. Other changes in the cabinet and fiscal policy remain unclear.
The ten-year U.S. Treasury yield is up four basis points. The Japanese JGB is two bps higher, while European sovereign debt yields are lower.
The yen at 161.76 per U.S. dollar is 0.3% softer than Friday and very close to its lowest level since 161.96 touched in December 1986. Officials are threatening more intervention.
The price of Bitcoin has strengthened 1.6%, and gold is 0.5% firmer.
Officials at the People’s Bank of China once again kept their 1-year and 5-year loan prime rates steady at 3.0 and 3.5%, Their last change was a cut of 10 basis points in May 2025.
Higher but still pessimistic readings of consumer confidence were registered in June in Denmark, Belgium, Turkey and the Netherlands.
Former Fed Chairman Greenspan, who served in that capacity from 1987 until 2006, has died at age 100.
Irish wholesale price inflation rose to a 16-month high of 1.6% in May, having been as low as 6.4% this past December.
Polish producer price inflation of 2.4% in May was at a 3-year high. Estonian PPI of 2.7% was the most in 4 months, but Moroccan consumer price inflation settled back a half percentage point to a 2-month low of 1.2%.
Copyright 2026, Larry Greenberg. All rights reserved.
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