Region: Europe

Limited peace progress, focus on inflation. Fatigue sets in near 1.18. Markets look through short-term political jitters.

Dollar unmoved by jobs beat. Euro’s easy gains are over. Sterling on the defensive, but global forces still anchor.

Oil anchors rates, dollar stays range bound. Sterling’s sell-off on hold. Euro capped by uncertainty.

Peace deal hopes denting dollar support. Buoyed by external forces, tested by local politics. Relief rally, limited upside.

Re‑escalation fears fade. Euro in holding pattern around 1.17. UK risk premium builds.

Escalation flare‑Up, downside bias builds. Oil risk, Yen intervention, and April’s risk rally. Upside stalls as local elections loom.