Brent crude surged 3% to cross $90 a barrel for the first time in over a month, fueled by escalating US strikes on Iran and broader Middle East hostilities. This rise complicates policy for Antipodean central banks, with markets now pricing a 78% chance of another RBNZ hike in September and a 76% chance of an RBA tightening by December. The Australian and New Zealand dollars initially wobbled but later steadied, awaiting key inflation and jobs data. Higher global oil prices and geopolitical risks could increase safe-haven demand for gold and potentially pressure the Pakistani Rupee due to increased import costs.
بحوالہ / Source: www.brecorder.com