Hedging demand cools down, and the dollar retreats from three-month highs

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Crypto Finance News: According to Jintou, the US dollar retreated after reaching a three-month high on Tuesday, mainly driven by safe-haven capital inflows and rising oil prices due to the US-Iran conflict. Jefferies economist Mohit Kumar stated that Trump’s proposal to insure ships passing through the Strait of Hormuz could lead Gulf countries to take retaliatory measures against Iran, boosting market sentiment. Federal Reserve’s Williams said that cooling inflation could provide room for further rate cuts in the future. Investors are focusing on upcoming US economic data, including the ADP private sector employment report at 21:15 Beijing time and the ISM services index at 23:00.

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