Risk aversion demand cools, and the dollar retreats from a three-month high

According to Jinshi reports, the dollar fell back after hitting a three-month high on Tuesday, mainly driven by safe-haven inflows and rising oil prices due to the US-Iran conflict. Jefferies economist Mohit Kumar stated that Trump's proposal to provide insurance for ships passing through the Strait of Hormuz and the possibility of Gulf countries taking countermeasures against Iran boosted market sentiment. Federal Reserve's Williams indicated that cooling inflation could provide room for further rate cuts in the future. Investors are focused on the upcoming US economic data, including the ADP private sector employment report at 21:15 Beijing time and the ISM services index at 23:00.