{"id":125543,"date":"2026-05-22T02:58:10","date_gmt":"2026-05-22T02:58:10","guid":{"rendered":"https:\/\/www.europesays.com\/iran\/125543\/"},"modified":"2026-05-22T02:58:10","modified_gmt":"2026-05-22T02:58:10","slug":"dollar-perched-near-six-week-high-on-uncertainty-over-u-s-iran-deal","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/iran\/125543\/","title":{"rendered":"Dollar perched near six-week high on uncertainty over U.S.-Iran deal"},"content":{"rendered":"

The dollar held near a six-week top on Friday, on conflicting signals over a U.S.-Iran peace deal, though investors latched on to hopes of some progress.<\/p>\n

Yaorusheng | Moment | Getty Images<\/p>\n

The dollar held near a six-week top on Friday, after a volatile overnight session on conflicting signals over a U.S.-Iran peace deal, though investors latched on to hopes of some progress.<\/p>\n

Washington and Tehran stuck to\u00a0opposing stances\u00a0over the latter’s uranium stockpile and control of the Strait of Hormuz, although U.S. Secretary of State Marco Rubio said there had been “some good signs” in talks.<\/p>\n

The mixed messages whipsawed markets overnight, though moves in currencies were largely subdued in early Asian trade on Friday as investors awaited more clarity.<\/p>\n

The dollar<\/a> was a touch higher and stood at 99.24 against a basket of currencies, not far from its peak of 99.515 hit in the previous session, its highest since April 7.<\/p>\n

The euro<\/a>\u00a0dipped 0.03% to $1.1613, while the pound<\/a>\u00a0was flat at $1.3431. Sterling was set to gain 0.8% for the week, having fallen more than 2% last week due to\u00a0political turmoil\u00a0in Britain.<\/p>\n

The dollar found additional support from data which showed U.S.\u00a0weekly jobless claims\u00a0fell last week while\u00a0manufacturing activity\u00a0rose to a four-year high in May, underscoring\u00a0resilience\u00a0in the world’s largest economy.<\/p>\n

“We’re coming to the end of week 12, we’re six weeks in the ceasefire, and I’m just not really that convinced we’re any closer to a resolution between the U.S. and Iran,” Tony Sycamore, a market analyst at IG, said of the Middle East war.<\/p>\n

“I still feel like the risks are for the U.S. dollar to go higher, because I really just don’t see a way out of this situation in the Middle East without them sort of needing to be more forceful.”<\/p>\n

Elsewhere, the Australian dollar<\/a>\u00a0fell 0.06% to $0.7145, while the New Zealand dollar<\/a>\u00a0bought $0.5873.<\/p>\n

Asian currencies under pressure<\/p>\n

The U.S. dollar’s strength and persistently high oil prices have spelled pain for the yen<\/a>, which on Friday struggled on the weaker side of 159 per dollar. It was 0.1% lower at 159.09 per dollar.<\/p>\n

The renewed weakness in the yen comes despite\u00a0likely intervention\u00a0from Tokyo just weeks ago to shore up the currency, leaving traders on alert for further moves by Japanese authorities.<\/p>\n

“The yen has now given up more than half of its post-intervention gains… risks of further FX intervention are undoubtedly mounting, particularly as officials have indicated that there is no real limit as to how much, or how often, they can step in to protect the currency,” said Matthew Ryan, head of market strategy at Ebury.<\/p>\n

Data on Friday showed Japan’s\u00a0core inflation\u00a0slowed to a four-year low in April, complicating the outlook for the Bank of Japan’s rate-hike path.<\/p>\n

Currencies in emerging Asia have also come under\u00a0immense pressure\u00a0owing to the global oil shock, forcing policymakers to take increasingly urgent and unusual steps to shore up their economies.<\/p>\n

Earlier this week,\u00a0Indonesia announced\u00a0a tightening of the state’s grip over the country’s abundant natural resources and said all exporters of natural resources must store 100% of their export revenues in state-owned banks from June 1, in a move to support the plummeting rupiah.<\/p>\n

“The rupiah has been under tremendous pressure and thus these are measures aimed at directly intervening to stabilize the rupiah by increasing onshore U.S. dollar supply,” said Nigel Foo, head of Asian fixed income at First Sentier Investors.<\/p>\n

“A currency’s value is a representation of a country’s fundamentals and that of Indonesia has clearly been deteriorating.”<\/p>\n

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The dollar held near a six-week top on Friday, on conflicting signals over a U.S.-Iran peace deal, though…\n","protected":false},"author":2,"featured_media":107715,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[3],"tags":[3980,3975,3982,157,135,3446,3450,3978,3454,3976,34,210,49,3979,3974,101,69,10197,3981,3977,36,1705],"class_list":["post-125543","post","type-post","status-publish","format-standard","has-post-thumbnail","category-iran","tag-australian-dollar","tag-australian-dollar-us-dollar-fx-spot-rate","tag-bitcoin","tag-breaking-news-markets","tag-business-news","tag-currency-markets","tag-dxy-us-dollar-currency-index","tag-eur-usd","tag-forex-markets","tag-gbp-usd","tag-iran","tag-marco-rubio","tag-middle-east","tag-money-markets","tag-new-zealand-dollar-us-dollar-fx-spot-rate","tag-strait-of-hormuz","tag-tehran","tag-tokyo","tag-u-s-dollar","tag-usd-jpy","tag-war","tag-washington"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116615990853851511","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/125543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=125543"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/125543\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/107715"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=125543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=125543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=125543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}