ING: US-Iran Peace Deal Talk Softens Dollar but DXY Holds Firm
ING strategist Chris Turner notes that a potential US-Iran peace deal has softened the dollar, but the DXY index remains resilient as energy supply and inflation risks persist.
DXY
ING FX strategist Chris Turner commented on the US dollar's reaction to peace deal speculation between the US and Iran. While the possibility of a diplomatic resolution has introduced downward pressure on the greenback, the DXY index has managed to hold its ground.
Turner highlighted that without the free flow of oil through the Strait of Hormuz, energy supply losses and inflation risks remain elevated. This keeps the dollar supported despite the softer tone from peace deal optimism.
Source: FXStreet Forex News