US dollar near 6-week high as Iran tensions worry traders
The US dollar is holding near a six-week high, mainly because ongoing tensions in Iran are making traders nervous about rising prices.
Even though Secretary of State Marco Rubio said talks with Iran are moving forward, he admitted there are still big issues to solve.
Energy supply concerns have everyone watching the Federal Reserve for possible changes.
Fed's Waller signals easing-bias removal
The dollar's strength is pushing down other currencies like the euro, yen, and Australian dollar, especially after weak jobs data from Australia.
In the US people are feeling the pinch at gas stations, with consumer sentiment hitting record lows in May.
Federal Reserve Gov. Christopher Waller suggested removing the Fed's "easing bias" and opening the door to a possible rate hike; there's now a 50% chance of a rate hike by October.