Dollar slips against major currencies as Iran talks lift risk appetite
SPY•The dollar index fell 0.47% to 101.75 on Monday as easing concerns about escalation in the Iran war lifted risk appetite. Brent crude settled nearly 6% lower at $92.57 a barrel, while investors awaited U.S. CPI data due Tuesday, expected to show a 0.3% monthly rise.
1. Dollar weakens
The dollar weakened against major currencies on Monday as investors rotated back into risk assets after concerns about escalation in the Iran war eased. The euro rose 0.64% to $1.1213, the dollar fell 0.41% against the yen to 157.89, and sterling gained 0.60% to $1.34290. The dollar index dipped 0.47% to 101.75.
2. Data in focus
Investors are watching Tuesday’s U.S. Consumer Price Index release, which is expected to show a monthly rise of 0.3%, according to a Reuters poll. The Australian dollar rose 0.95% and the New Zealand dollar jumped 1.54%; traders also weighed the implications of New Zealand’s close weekend elections.
