Strong Dollar Breakout Puts the Squeeze on Crypto and Forex

Equities are firmly in the green, shaking off lingering fears of tighter monetary policy. The S&P 500 pushed 1.08% higher as semiconductor names took the spotlight [1][2]. Relief in the energy markets provided a heavy macro tailwind, with crude oil sliding after a preliminary U.S.-Iran peace agreement eased immediate supply fears and reopened the Strait of Hormuz [3][4]. While stocks celebrate, the currency and crypto spaces are telling a much more cautious story. A distinctly hawkish press conference led by Fed official Warsh sent short-term Treasury yields jumping, putting a strong bid under the U.S. dollar [5]. This pushed major…