Dollar Set for Second Weekly Loss on Iran War Peace Hopes
The U.S. dollar is set for its second consecutive weekly decline due to optimism over a ceasefire between Israel and Lebanon and potential U.S.-Iran talks. The dollar index is steady at 98.212, having given up most of the gains sparked by the war.
The U.S. dollar is poised for a second straight weekly drop as optimism over a 10-day Israel-Lebanon ceasefire and prospects for fresh U.S.-Iran talks weighed on the greenback. The dollar index was steady at 98.212, on track for a second straight week of declines. Currencies were mostly rangebound in Asia trade as investors awaited further details. The euro was steady against the dollar at $1.1783, on track for a third straight weekly gain. U.S. Treasury yields held steady, with the two-year yield at 3.7758% and the benchmark 10-year yield at 4.3132%. Fed funds futures show markets betting that the Federal Reserve will keep rates on hold this year.
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