Dollar Strengthens as Hawkish Fed Bets Pressure Gold, Silver and Oil

From monetamarkets.com

Global forex and commodity markets are turning increasingly defensive as stronger US economic data and rising expectations of a more hawkish Federal Reserve continue fueling broad US Dollar strength. Precious metals remain under pressure, oil prices are softening despite lingering geopolitical tensions in the Middle East, and commodity-linked currencies such as the Canadian Dollar are struggling against renewed USD momentum as traders reprice interest rate expectations. WTI crude oil is holding losses near the $97.50 level as shipping activity through the Strait of Hormuz resumes, easing immediate supply disruption ... (full story)