US dollar dips against euro on Iran peace talk optimism
The US dollar took a dip against the euro on Monday as hopes for peace talks between the US and Iran started to build.
This shift came after some tense moments, like the US seizing an Iranian cargo ship and Tehran threatening retaliation, but now, with possible negotiations in Pakistan, markets are feeling a bit more upbeat.
As Scotiabank's Eric Theoret put it, there's increased optimism, with the dollar index down 0.39% and the euro nudging up.
Oil jumps 5% amid Hormuz disruptions
Tensions around Iran aren't just moving currencies—they're shaking up energy prices too.
Oil jumped over 5% because disruptions in the Strait of Hormuz (a key route for global oil) have everyone on edge.
Meanwhile, investors are keeping an eye on big events like the upcoming Senate hearing for Federal Reserve nominee Kevin Warsh, who's all about keeping Fed policy independent.