Brent crude futures plunged to $87.55 a barrel, extending Monday's nearly 9% drop, amid a lull in US-Iran hostilities and reports of potential talks. Meanwhile, traders are pricing in a 38% chance of a 25 basis point Federal Reserve rate hike this Wednesday, with the Fed expected to adopt a tightening bias. These persistent expectations for higher rates are providing support to the US dollar. For Pakistan, falling oil prices could ease import costs, while a stronger dollar due to Fed policy may pressure USD/PKR and impact local gold prices.
بحوالہ / Source: www.brecorder.com