Forex Today: Weekly Claims and Fedspeak on top of the agenda

The US Dollar has regained momentum, reaching near multi-month peaks above 102.00, thanks to advances in both US Treasury yields and the DXY index. The Federal Reserve's Waller and Musalem are set to speak, alongside the weekly Initial Jobless Claims and Wholesale Inventories. EUR/USD has dipped towards a 17-month low, while GBP/USD struggled to maintain its Tuesday's high, trading below 1.3200.

Across the Channel, the RICS House Price Balance and the BoE's Credit Conditions Survey will be released, with BoE speakers Greene and Baileys to address the market. USD/JPY has been fluctuating around 158.00, with Current Account results and the Eco Watchers Survey slated for release. AUD/USD faced pressure, slipping toward the low 0.6900s, while WTI futures fell below $89.00 amid concerns in the Middle East.

Gold has plummeted to two-month lows near the $4,000 mark, influenced by the strong USD and rising US Treasury yields. Born in Argentina, Pablo has been actively involved in FX markets since his college years. During Thursday's Asian session, AUD/USD consolidated near 0.6950, awaiting further developments related to the Middle East crisis.

A Pentagon report hinted at the possibility of strikes against Iran, fueling geopolitical risk and supporting the Dollar. USD/JPY retreated from its recent peak, sinking below 158.00 in the Asian session due to potential Japanese Yen support. Simultaneously, the US Dollar nears an 18-month high, aided by hawkish FOMC Minutes and the threat of Middle East tensions, further benefiting the pair.

Gold faced difficulties capitalizing on its recent bounce, trading slightly negative at $4,100 during the Asian session. Fed Chairman's hawkish remarks reinforced expectations for at least one more rate hike this year, negatively impacting the non-yielding asset.