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Dollar drops after pause in US-Iran tensions
The US dollar declined against major currencies during Asian trading sessions following a temporary halt in hostilities between Washington and Tehran; the United States announced a suspension of its bombing campaigns against Iran over the weekend, which boosted investors' sentiment and led to a significant drop in energy prices, with Brent crude falling by 4.2% to $92.74 per barrel. Iran confirmed that it would suspend its attacks as long as Washington adheres to the same stance. These developments contributed to a 0.2% decrease in the dollar against the Japanese yen, while the euro rose to $1.1403 and the British pound to $1.3352. Expectations for further de-escalation are there, and markets are welcoming the improvement in geopolitical conditions.
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