Dollar Holds Steady as US-Iran Conflict and Inflation Data Weigh on Markets

📉 DOLLAR — Inflation data arrives while Hormuz stays shut and the ceasefire is void. 📌 LOOK CLOSER: The dollar treading water signals paralysis, not stability. With oil at $94, IRGC striking Jordan, and US air defense degraded along Hormuz, inflation expectations should be spiking — but FX markets are frozen between war risk and deal hope. That gap resolves violently the moment Iran's ceasefire draft is accepted or rejected.