A Hawkish Fed Keeps EURUSD Under Structural Pressure

Global markets are trading with a mixed but slightly constructive tone as geopolitical anxieties begin to subside. Investors are pushing past recent US-Iran hostility to refocus on upcoming tech developments, helped along by cooling crude oil prices and a stabilization of risk appetite [1][2]. However, the broader macroeconomic backdrop remains highly complex. Federal Reserve minutes revealed deep policy divisions among officials, who warned that aggressive capital expenditures on artificial intelligence and lingering tariff risks could sustain upward pressure on inflation [3][4]. New Fed Chair Kevin Warsh signaled a hawkish stance toward the central bank's 2% inflation target, bolstering expectations of a…