US Dollar Index Drops Below 100 as Trump Announces Iran Talks
The US Dollar Index (DXY) fell under the 100 level in Asian trading on Monday after President Trump said new negotiations with Iran would begin. The greenback weakened against a basket of major currencies as risk sentiment improved.
The US Dollar Index slipped below the psychologically important 100.00 level during Asian trading on Monday, pressured by renewed risk appetite. The index, which tracks the dollar against a basket of six major currencies, was last seen around 99.70.
The decline came after President Donald Trump stated that fresh talks between the US and Iran would start on Monday, easing geopolitical tensions that had previously supported the safe-haven dollar.
Improved risk sentiment dampened demand for the greenback as investors shifted toward riskier assets. The dollar’s weakness was broad-based, with all components of the index edging higher against the currency.
Source: FXStreet Forex News