News and market trends with the weekly currency report

29 June 2026

Oil Shock: Central Banks Mistimed

Brent plunged around $72 on Friday, its lowest since February 27, wiping out nearly 10% in a week. The war premium is shrinking as the Strait of Hormuz reopens. Yet it was precisely the surge in crude that had prompted the Fed and ECB to toughen their stance in June. The scene has changed, and central bankers have just made their move.