Dollar tumbles as Iran ceasefire crushes oil premium

The dollar-yen pair reversed sharply on Tuesday, touching a session high around 160.50 before collapsing below 159.00 to settle near 158.85. USDJPY had briefly breached 160.00 for the first time since July 2024, a level that previously triggered direct intervention from Japan’s Ministry of Finance, before the late-session reversal erased the entire day’s gains and then some. The selloff accelerated after President Trump announced a two-week suspension of military operations against Iran, crushing the US dollar’s safe-haven bid. West Texas Intermediate – the benchmark US crude oil price – plummeted to a nearly two-week trough during the Asian session on The post Dollar tumbles as Iran ceasefire crushes oil premium appeared first on Financial Mirror .

Go to News Site