Dollar Softens on Hopes for Middle East Peace Deal
The dollar remains weak as investors hope for a deal to reopen the Strait of Hormuz. Peace talks in Doha helped push oil prices below 100 dollars per barrel.
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The United States dollar fell on Tuesday morning as investors bet on a diplomatic resolution to the conflict in Iran. The dollar index sat at 99.031 after Brent crude prices dropped 7% on Monday to below $100 per barrel. Easing energy costs are cooling the safe-haven demand that has supported the greenback throughout the three-month war.
