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ECONOMY

Dollar Wobbles on Middle East Peace Hopes

Latest news on dollar wobbling amid Middle East peace hopes. How the reopening of Strait of Hormuz and end of Iran war impact markets.

Michael Brown
ByMichael Brown- Senior Editor
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Dollar Wobbles on Middle East Peace Hopes
Photo: Prepared by Bond.az

The dollar nursed losses on Tuesday as markets clung to hopes for a Middle East peace deal to reopen the Strait of Hormuz and end the Iran war.

Iran's top negotiator and foreign minister met Qatar's prime minister in Doha. US President Donald Trump said talks were going "nicely" but warned of fresh attacks if they failed.

The euro held at $1.16365, while the yen traded at 158.95. The dollar index stood at 99.031.

Charu Chanana, chief investment strategist at Saxo in Singapore, said: "Markets are right to price some optimism because even a path toward reopening Hormuz lowers extreme tail risks around oil, inflation and global growth."

Analysts do not expect energy prices to return to pre-war levels anytime soon.

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