Oil Jumps by Over 10% as US–Iran Conflict Disrupts Supply Routes

The Lebanese pound’s NEER edged up by 0.4% this week to 124.22 points, while the dollar index fell by 0.17%. June CPI and PPI came in below forecasts, briefly weakening the dollar and fueling a bond rally, while traders sharply reduced expectations of a Fed rate hike in July’s Fed meeting . Meanwhile, geopolitical tensions with Iran lifted oil prices, pressured the yen, and weighed on precious metals.

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