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Dollar Faces Challenges on Iran Sanctions
The US dollar is struggling to maintain its gains against a basket of major currencies, with its index remaining near 98.96 points. Trading is being influenced by the expansion of US sanctions on Iran and the Treasury Department's efforts to ease long-term bond yields. The dollar has benefited partly from Treasury warnings about depriving violating countries of access to the dollar, prompting some investors to buy US currency in anticipation of sanctions. Meanwhile, the euro stayed close to $1.1668, and the British pound remained near its six-month high. Investors are also awaiting the Fed Chair's speech at the Jackson Hole conference for signals regarding US monetary policy.
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