Oil spikes through $108, the yuan climbs, and Trump leans on the Fed — all eyes on this week's central bank decisions

Three big forces are colliding ahead of this week's Federal Reserve and Bank of Japan meetings: fresh strikes near the Strait of Hormuz have pushed Brent crude above $108 a barrel, the Chinese yuan has hit a multi-year high as traders position for a weaker dollar, and Donald Trump is publicly demanding the Fed cut rates even as inflation runs hot. The combination of an energy supply shock, a shifting currency order, and political pressure on monetary policy makes this one of the more consequential weeks of the year.