US dollar hits 10 day low after possible U.S.-Iran deal
The US dollar hit its lowest point in 10 days after news broke about a possible peace deal between the US and Iran.
The plan aims to end tensions and halt the US blockade of Iran, which sent oil prices down by more than 4% and made investors more interested in riskier assets like stocks and foreign currencies.
Euro up 0.35%, pound up 0.3%
With optimism rising over potential stability in Iran's oil sector, the euro went up by 0.35% to $1.1607, the British pound rose by 0.3%, and even the Australian and New Zealand dollars saw gains.
Hormuz reopening uncertain as Trump warns
Despite the excitement, there are still concerns about when the key Strait of Hormuz will reopen for normal oil shipments.
Plus, President Trump warned that military action could return if a final nuclear agreement isn't reached, so investors aren't totally relaxed yet.