US EditionCeasefire Sends Dollar Toward Weekly Drop with US-Iran Talks in Focus
The peso fell 54 centavos as safe-haven demand rose and S&P Global Ratings cut the Philippines’ credit outlook to stable.
- The dollar slipped on Friday, heading for its largest weekly drop since January as investors sold safe-haven assets on the assumption that oil shipping through the Gulf will resume if the ceasefire holds.
- On Tuesday, the two sides agreed to a two-week ceasefire attempting to wind down a war that began on Feb. 28 with air strikes by the United States and Israel on Iran.
- Risk-Sensitive currencies like the Australian and New Zealand dollars rebounded, showing gains of nearly 3%, while the euro climbed 1.8% to $1.17255 and sterling advanced 2% to $1.346 this week.
- Negotiations to end the war concluded on Sunday in Islamabad, Pakistan, without an agreement; each side blamed the other for the failure of the 21-hour talks, jeopardizing the fragile ceasefire.
- Global Ratings cut the Philippines' credit outlook to stable from positive, citing surging energy prices and infrastructure spending concerns, as the peso closed at P59.97 on Friday, weakening 54 centavos from Wednesday.
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Peso to move sideways vs dollar with Middle East developments in focus - BusinessWorld Online
THE PESO may trade sideways against the dollar this week as markets remain on edge amid the temporary ceasefire deal between the United States and Iran. On Friday, the local unit closed at P59.97 against the dollar, weakening by 54 centavos from its P59.43 finish on Wednesday, Bankers Association of the Philippines data showed. Week on week, however, the peso gained 19 centavos from its P60.16 finish on April 1. The dollar edged higher on Friday…
Ceasefire Breathes Optimism as Dollar Faces Biggest Weekly Drop
The U.S. dollar experienced its largest weekly drop since January as investors shifted from safe-haven assets following a fragile ceasefire in the Gulf. The euro and sterling currencies rose, while the Australian and New Zealand dollars also gained against the dollar. Market optimism prevails despite uncertainties surrounding the ceasefire's durability.
Ceasefire Shakes Dollar Dominance
The US dollar is heading for its sharpest weekly decline since January, as global markets react to a fragile ceasefire linked to tensions involving Iran. During the peak of the conflict, the dollar surged as investors rushed toward safe haven assets amid rising oil prices, inflation fears, and market volatility. Now, with a tentative pause […] The post Ceasefire Shakes Dollar Dominance appeared first on Modern Diplomacy.
Shafaq News - Follow-up: The US dollar is on track for its biggest weekly decline in several months, as optimism grows regarding the potential success of the anticipated talks between the United States and Iran. According to Reuters, the dollar index fell by about 1.3% during the week, as investors shifted towards riskier currencies amid receding fears of a major escalation in the conflict. Major currencies such as the euro, British pound, and t…
New Strait Times
Business RecorderDollar set for weekly drop ahead of US-Iran peace talks
SINGAPORE: The dollar on Friday was heading for its largest weekly drop since January as other currencies gained on optimism that a ceasefire in the Gulf will hold and oil shipping will resume.
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