{
  "id": 1785312,
  "title": "Forex Today: US Dollar firms on Hormuz jitters ahead of UK CPI and FOMC Minutes",
  "url": "https://urgent.news/2026/08/18/forex-today-us-dollar-firms-on-hormuz-jitters-ahead-of-uk-cpi-and",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T19:54:27.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/forex-today-us-dollar-firms-on-hormuz-jitters-ahead-of-uk-cpi-and-fomc-minutes-202608181954"
  },
  "original_language": "en",
  "account": "The US Dollar Index (DXY) remained resilient near the 99.60 range on Tuesday, supported by safety concerns surrounding the Strait of Hormuz. Gold and oil prices dipped, while most major currencies declined against the Greenback. With Wednesday's agenda packed, including the UK inflation data, Eurozone statistics, and the Federal Open Market Committee's (FOMC) minutes, the focus shifts to these economic indicators. The US Dollar emerged as the strongest performer against the New Zealand Dollar. The heat map highlights percentage changes between major currencies, with the US Dollar as the base. Iran's top negotiator reiterated that the Strait of Hormuz would remain closed until Washington adheres to the terms of the expired interim deal, whereas US President Donald Trump claimed the waterway was open and operational, with no talks scheduled with Tehran. A vessel was reportedly hit by an unidentified projectile in the Strait, adding to the geopolitical tensions impacting currency values. EUR/USD showed weakness, oscillating around the 1.1580 level as the US Dollar continued to dominate. The pair is expected to face a busy European trading day next Wednesday, with Eurozone's final Harmonized Index of Consumer Prices (HICP) for July and a speech by European Central Bank (ECB) President Christine Lagarde. GBP/USD experienced a decline, hovering around the 1.3500 mark ahead of the main release of the UK Consumer Price Index (CPI) for July. A higher-than-expected figure could boost expectations for Bank of England (BoE) rate hikes, potentially benefiting the Pound, while a weaker-than-expected reading would leave Sterling vulnerable. USD/JPY benefited from the safe-haven demand for the Dollar, pushing the pair towards the 159.60 zone, close to the 160.00 level. Japan's trade data for July is scheduled for release later in the session. AUD/USD faced pressure as the risk-averse sentiment and a firm Dollar weighed on the currency, taking it closer to the 0.7080 mark. The Australian economy will face a heavy calendar on Wednesday, with employment data, consumer inflation expectations, and the People's Bank of China's (PBoC) interest rate decision taking center stage. Gold experienced a sharp decline, slipping over 1% to the $4,350 zone due to the stronger Dollar and profit-taking, despite the risk-off environment. West Texas Intermediate (WTI) Crude Oil retained momentum but retreated from its early-session highs to around $84.00 as traders weighed conflicting signals about the Strait of Hormuz's accessibility. Later in the North American session, the Federal Reserve (Fed) will unveil the minutes from its latest policy meeting, which will be scrutinized for any hints on the future path of interest rates. Agustin Wazne, a recent addition to FXStreet as a Junior News Editor, specializes in commodities and covers major currencies.",
  "summary": "The US Dollar Index (DXY) held a firm tone near the 99.60s on Tuesday, keeping a mild safe-haven bid as tensions around the Strait of Hormuz stayed front and center. Gold and Oil both sold off, and most major currencies drifted lower against the Greenback.",
  "key_points": [
    "US Dollar firms near 99.60 amid Hormuz tensions",
    "UK CPI and FOMC minutes dominate Wednesday agenda",
    "Iran-Hormuz dispute adds geopolitical uncertainty"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}