|

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.

USDEURGBPJPYCADAUDNZDCHF
USD-0.11%-0.26%0.08%-0.06%-0.10%-0.33%-0.18%
EUR0.11%-0.17%0.18%0.04%-0.02%-0.22%-0.08%
GBP0.26%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%
CAD0.06%-0.04%-0.20%0.18%-0.03%-0.26%-0.11%
AUD0.10%0.02%-0.15%0.21%0.03%-0.21%-0.05%
NZD0.33%0.22%0.06%0.45%0.26%0.21%0.15%
CHF0.18%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

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.

More from Guillermo Alcala
Share:

Editor's Picks

GBP/USD turns negative; slips back to 1.3530

GBP/USD comes under pressure and weakens toward the 1.3530 zone on Tuesday. Cable thus leaves behind two daily upticks in a row and retreats further from Monday’s multi-week tops past 1.3570 following humble gains in the Greenback and disheartening UK jobs data.

EUR/USD comes under pressure near 1.1570

EUR/USD could not sustain the earlier bullish attempt toward the proximity of 1.1600 the figure, coming under fresh downside pressure and revisiting the 1.1580-1.1570 band as the NA session draws to a close on Tuesday. The better tone in the US Dollar in the latter part of the day weighs on the pair amid steady volatility in the Middle East. Looking forward, the release of the FOMC Minutes takes centre stage on Wednesday.

Gold remains offered around $4,350

Gold accelerates its daily correction and revisits the $4,350 zone per troy ounce on Tuesday. The precious metal sets aside two daily advances in a row and follows the absence of direction in the US Dollar, declining US Treasury yields across the curve and continuous uncertainty in the Middle East crisis.

HYPE extends gains as Hyperliquid urges SEC action on pre-IPO futures framework
Hyperliquid (HYPE) retains a broad bullish outlook, trading above $59.00 on Tuesday. The decentralized exchange (DEX) native token marks the second consecutive day of gains as bulls return, eyeing a short-term breakout above $60.00.
Fiscal concerns and doubts on Fed independence send US yields to long-term highs

US Treasury yields keep rising across the curve this week, with the yield for the 30-year Treasury bond reaching its highest level since 2007, during the global financial crisis, at 5.33% so far on Monday. A mix of concerns about the ballooning US fiscal deficit and growing doubts about the Federal Reserve’s Independence are increasing pressure on US Government Bonds.

Why is Crude Oil priced for a reopening the ships haven't made?
Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.