Investors are aggressively recalibrating the future of Federal Reserve policy as a potential leadership transition under Kevin Warsh comes into focus. Market expectations are pivoting away from aggressive rate cut scenarios toward a significantly tighter policy trajectory. This shift indicates that the era of easy money may remain on hold as a new ideological direction at the central bank gains traction.

Thursday opened with a softer dollar tone as optimism around a potential US-Iran agreement continued to build.

Energy prices continue to shape expectations around central bank policy.