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Holiday-Thin Markets Keep Dollar Firm as Oil Gains on U.S.–Iran Talks

Traders await Fed minutes with U.S. GDP to clarify the path of rate cuts.

A person stands in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, Feb. 16, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, Feb. 16, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
People walk past an anti-US billboard on a street in Tehran, Iran, February 5, 2026. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS/File Photo
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 22, 2026.    REUTERS/staff

Overview

  • - Trading stayed subdued with several Asian bourses shut for Lunar New Year and the prior U.S. holiday limiting liquidity.
  • - The dollar held recent advances as investors looked to Fed minutes and advance GDP, with markets leaning toward a first rate cut around June.
  • - Crude prices edged higher as the U.S. and Iran prepared for indirect talks in Geneva, sustaining a geopolitical risk premium in energy.
  • - The yen strengthened even as Japan’s Nikkei declined on weak fourth‑quarter growth and a slide in SoftBank shares.
  • - Gold pulled back toward the $4,900–$5,000 per ounce range, Bloomberg reported potential Pentagon curbs on ties with Anthropic that fed AI-sector jitters, and Indian stocks opened lower with foreign selling offset by domestic buying.