U.S. President Donald Trump has told associates recently that he wants to avoid a prolonged war in Iran and that he hopes to end the conflict soon, the Wall Street Journal reported on Wednesday.
The U.S. current account deficit narrowed sharply in the fourth quarter, hitting the lowest level in nearly five years, amid a rise in primary income and a reduction in the goods trade deficit partly because of tariffs on imports.
The dollar held on to gains at the start of Asian trading on Thursday as investors sought clarity on whether a de-escalation in the U.S.-Israeli conflict with Iran was imminent and trimmed bets that the Federal Reserve's next move may be a hike.
British consumer price inflation held at an annual rate of 3.0% in February, unchanged from January's rate, official figures showed on Wednesday, ahead of a likely upward lurch as war in the Middle East pushes up prices.
Countries across Asia are weighing up work-from-home policies and stimulus measures enforced during the COVID pandemic, as they scramble to respond to global fuel shortages triggered by the Iran war.
The Western allies trying to negotiate a way to protect the Strait of Hormuz for energy shipping face a stark reality: a similar effort in the Red Sea that started years earlier cost billions of dollars and ultimately failed against Yemen's Houthis.