DXY flows - Trump goes sour again on Iran; dollar consolidates, in uptrend

Never plain sailing. Trump, perhaps sour at the election results and missed window of opportunity, taking to social media to suggest ‘We don't need a deal with Iran. Those days have long since passed… We've got their money... and we've got their Strait’. Vance also seemingly pulled off his Iran missionary duties, directed to more petty endeavours.  

Not a big reaction, and at least the fresh strikes remain (hopefully) off the table, but oil has stopped its pullback into prior support the last couple of sessions and, while this is just more rhetorical gymnastics and might be 'negotiation' if talks are proving inevitably sticky, it does pull the rug out from recent more ambitious hopes somewhat.

At the margin, not a great comment though for already pressured fixed income (and goes with the grain of the dollar), although tech remains a competing focal point with still quite volatile sentiment.

DXY holding around 103 congestion today after the recent break up, with some consolidation. Stepping back from the swings of recent months, the YTD uptrend though remains in place and has been renewed in recent days, so burden of proof is on events to shift that medium-term narrative.