Dollar stays defensive as euro firms and yen strengthens
Updated
Updated · Reuters · May 7
Dollar stays defensive as euro firms and yen strengthens
8 articles · Updated · Reuters · May 7
In Asia, the dollar index stood at 97.950, the euro rose 0.1% to $1.1757, and the dollar traded at 156.15 yen after briefly hitting 155.00.
Markets were encouraged after Iran said it was reviewing a US peace proposal, though uncertainty over reopening the Strait of Hormuz kept Brent crude 0.8% higher in early trade.
Lower oil prices overnight eased inflation and rate-hike fears, while Tokyo's intervention warnings and reports of roughly $35 billion in yen support kept speculators cautious.
Is the dollar's decline a temporary blip, or a major shift as decades of Japanese investment start flowing home?
As Japan's new leader meets Trump, will currency talks prevent a massive sell-off of U.S. government debt?
Can a fragile peace proposal actually reopen the world's most vital oil chokepoint amid deep-seated mistrust?