The US dollar declined amid expectations that the war on Iran may soon conclude, as its appeal as a safe-haven asset waned following projections that the Middle East conflict will remain limited. This shift led to a drop in oil prices while gold edged higher.
اضافة اعلان
By 09:45 Moscow time, the Dollar Index (DXY) stood at 98.686 points, retreating slightly by approximately 0.04% during trading. This reflects ongoing pressure on the US currency against a basket of major peers.
In early Asian trading, the dollar reached 157.73 yen and 1.1632 against the euro. However, it pulled back from Monday’s highs after US President Donald Trump told CBS News that Washington is "very far along" in the war on Iran, compared to his initial estimate of four to five weeks.
While the Iranian Revolutionary Guard quickly dismissed these remarks as "nonsense," the statements appeared to ease trader concerns regarding a potential oil market shock, shifting market sentiment toward a "wait-and-see" approach for further developments.
Performance of Other Currencies
Australian Dollar: Stabilized near $0.7068, remaining within the 70-cent range since the outbreak of the war.
British Pound: Recovered from Monday's losses to settle at $1.3412.
New Zealand Dollar: Remained steady at $0.5932.
Previously, the dollar served as a preferred haven for traders as the war on Iran disrupted oil and gas exports through the Strait of Hormuz, driving up energy prices. Investors fear these disruptions could slow global growth by increasing burdens on businesses and consumption, while simultaneously prompting central banks to reconsider plans for cutting interest rates.
(Source: Reuters)
