US Dollar Index (DXY) eases to 99.10 amid hopes of a US-Iran peace deal
- The US Dollar pares gains on Monday on renewed hopes of a US-Iran peace deal.
- A spokesperson of Iran's Foreign Ministry affirmed that peace talks are ongoing.
- The US economic calendar is thin on Monday, with the focus on May's preliminary S&P PMIs, due on Thursday.
The US Dollar (USD) shows moderate losses against its main currency peers on Monday, as rumours about ongoing US-Iran negotiations have lifted market sentiment during the European session. The US Dollar Index (DXY), which measures the value of the Greenback against a basket of peers, is trading at 99.15 at the time of writing, having already touched 99.09, down from intra-day highs at 99.40.
Comments by a spokesperson of Iran’s Foreign Ministry, affirming that Washington and Tehran would be analysing a recent peace proposal sent by Pakistani mediators, have brought some appetite for risk, hurting demand for the safe-haven USD. The same source also affirmed that Iranian and Omani technical teams discussed options to restore safe passage through Hormuz last week, which has sent WTI Oil prices a few US Dollars down from May highs.
Before that, news of a drone attack on a nuclear plant in the United Arab Emirates this weekend, allegedly by Iran or allies, added pressure on a fragile ceasefire. Beyond that, Axios reported that US President Donald Trump met with his national security team to discuss the next steps in the conflict, while he wrote that “the clock” is ticking on Iran in a post on X.
The US economic calendar is practically void on Monday. The most relevant data will be released in the second half of the week, with the preliminary S&P Global Purchasing Manager’s Indexes (PMIs) for May, which will provide further insight about the impact of Iran’s war and the energy shock on the country’s economic activity.
(This story was corrected on May 18 at 10:27 GMT to amend the position of the Iranian Foreign Ministry spokesperson, from Finance Ministry spokesperson, as previously stated.)
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.11% | -0.26% | 0.08% | -0.06% | -0.10% | -0.33% | -0.18% | |
| EUR | 0.11% | -0.17% | 0.18% | 0.04% | -0.02% | -0.22% | -0.08% | |
| GBP | 0.26% | 0.17% | 0.36% | 0.20% | 0.15% | -0.06% | 0.08% | |
| JPY | -0.08% | -0.18% | -0.36% | -0.18% | -0.21% | -0.45% | -0.29% | |
| CAD | 0.06% | -0.04% | -0.20% | 0.18% | -0.03% | -0.26% | -0.11% | |
| AUD | 0.10% | 0.02% | -0.15% | 0.21% | 0.03% | -0.21% | -0.05% | |
| NZD | 0.33% | 0.22% | 0.06% | 0.45% | 0.26% | 0.21% | 0.15% | |
| CHF | 0.18% | 0.08% | -0.08% | 0.29% | 0.11% | 0.05% | -0.15% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The
Author
Guillermo Alcala
FXStreet
Graduated in Communication Sciences at the Universidad del Pais Vasco and Universiteit van Amsterdam, Guillermo has been working as financial news editor and copywriter in diverse Forex-related firms, like FXStreet and Kantox.
