ECB Rate Decision Approaches as Iran Threatens Strait of Hormuz
Markets await the ECB's expected rate hike amid signals for future policy, while Iran's Revolutionary Guard threatens to close the Strait of Hormuz and targets vessels.
The European Central Bank is expected to deliver a rate hike, with traders focusing on forward guidance for signals on the pace of future tightening.
Meanwhile, geopolitical tensions escalate in the Middle East. Iran's Revolutionary Guard has declared the Strait of Hormuz closed and threatened to target any vessel attempting to transit. Reports indicate that two ships were fired upon, although US Central Command stated that commercial traffic was continuing to transit in and out of the strait.
Source: FXStreet Forex News