Dollar set for second weekly loss amid U.S.-Iran ceasefire deal
The dollar weakened for a second straight week as signs of a US-Iran ceasefire deal and looser restrictions on shipping through the Strait of Hormuz dominated markets. Reuters reported the agreement would extend the truce by 60 days and allow traffic to flow while negotiators tackle questions such as Iran's nuclear programme. President Donald Trump said he would deliver a final decision on Friday regarding the deal. Against this backdrop, the euro rose 0.26% to $1.1678 and the pound moved to $1.3473, while the dollar index slipped to 98.81. The yen traded at 159.22 per dollar, near the 160 level that has historically provoked intervention, and Japan disclosed it spent 11.7 trillion yen ($73.5 billion) in currency markets over the past month.
