Dollar stumbles as optimism from fragile Israel-Iran truce linger
The dollar struggled to regain lost ground on Wednesday as investors, starved of good news, latched onto optimism over a fragile truce between Israel and Iran.
SINGAPORE: The dollar struggled to regain lost ground on Wednesday as investors, starved of good news, latched onto optimism over a fragile truce between Israel and Iran as a reason to take on more risk.
Markets were jubilant and an index of global shares hit a record high overnight as a shaky ceasefire brokered by US President Donald Trump took hold between Iran and Israel.
The two nations signalled that the air war between them had ended, at least for now, after Trump publicly scolded them for violating a ceasefire he announced.
Investors heavily sold the dollar in the wake of the news, after pouring into the safe-haven currency during the 12 days of war between Israel and Iran that also saw the US attack Iran's uranium-enrichment facilities.
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