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Dollar Nears Six-Week Lows as Hopes of Iran Talks Erase War Premium
Signs of renewed Washington-Tehran talks lifted risk appetite and pushed the dollar down nearly 2% this month, traders said.
- On Wednesday, the U.S. dollar skimmed six-week lows, surrendering nearly all gains made since the Iran war erupted, as optimism surrounding potential peace talks between Washington and Tehran lifted investor risk appetite.
- The U.S.-Iran conflict, which began February 28, previously drove the dollar to safe-haven highs as investors fled risk. Signs of a tentative ceasefire have since reduced demand for the currency as risk appetite returned.
- Markets are gauging the ceasefire's durability as uncertainty persists. Juan Perez, senior director of trading at Monex USA, said "no one knows exactly where things are going" regarding ongoing tensions.
- President Donald Trump said on Tuesday that peace talks could resume in Pakistan in coming days, though U.S. officials have not formally confirmed the ceasefire's extension amid ongoing engagement between nations.
- MUFG currency strategist Lee Hardman cautioned that it may be too soon to declare the dollar's safe-haven appeal over, warning "the market appears kind of optimistic now that the worst is behind" more quickly than likely.
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Safe-haven dollar near six-week lows on hopes of fresh Iran talks - New Straits Times Online
SINGAPORE: The US dollar lingered near six-week lows on Wednesday, surrendering nearly all the gains it had made since the Middle East war erupted as hopeful signs of another round of talks between the US and Iran lifted risk appetite.
·Malaysia
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Rand weakens as dollar skims six-week lows on Iran talks
The South African rand weakened on Wednesday as the safe‑haven US dollar skimmed six-week lows, with markets focused on the prospect of renewed talks between the United States and Iran aimed at ending the war. At 3.30pm, the risk-sensitive rand traded at 16.3650 against the dollar, weakening 0.2% from its previous close. The US dollar skimmed six-week lows on Wednesday, having surrendered almost all the gains made since the Iran war erupted, as …
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