SINGAPORE/LONDON: The dollar fell against major currencies on Monday as hopes of a deal to reopen the Strait of Hormuz pushed oil prices below USD100 per barrel, even as the US and Iran played down the chances of reaching an agreement soon. Meanwhile many global markets – including in the US, Hong Kong, the UK and the majority of Europe – are closed for holidays on Monday, thinning liquidity.
Against the yen, the US dollar was down 0.2percent at 158.94 yen, while the euro rose 0.31percent to USD1.11639 and the British pound gained 0.42 percent to USD1.34865.
The Australian dollar advanced 0.5percent at USD0.7162, while its kiwi counterpart tacked on 0.37percent to USD0.58685. The US dollar index fell about 0.2percent to 99.059.
As diplomatic efforts to find a resolution to the Iran war continue, US Secretary of State Marco Rubio said there would either be a good agreement or Washington would deal with the country in “another way.”
Iran’s foreign ministry spokesperson said conclusions had been reached on many topics discussed in a potential memorandum of understanding with the US, but this did not mean Tehran was close to signing an agreement.
