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fxJun 29, 2026, 8:59 PM

USD Extends Gains as DXY Breaks Range on Fed Shift, Iran Deal – HSBC

HSBC strategists note that the US Dollar has broken out of G10 ranges, supported by a provisional US-Iran peace accord and a shift in Federal Reserve policy.

DXY

HSBC analysts report that the US Dollar has extended its recent rally, with the DXY index breaking out of its prior G10 range. The move is attributed to two key factors:

  • An interim US–Iran peace agreement, which has reduced geopolitical risk premiums and supported risk appetite.
  • A shift in the Federal Reserve’s policy stance, which has further fueled dollar strength.

The breakout marks a notable change in currency market dynamics, with the dollar gaining momentum against major peers. HSBC’s assessment underscores the interplay between geopolitics and monetary policy in driving the greenback higher.

Source: FXStreet Forex News