Forex News: U.S. Dollar Advances As U.S. Awaits A Revised

U.S. Dollar Advances As U.S. Awaits A Revised Plan From Iran To End Hostilities

(RTTNews) - The U.S. Dollar value ticked higher as focus of investors shifts to the revised plan Iran is preparing to send to the U.S. in an effort to end the two-month-long gulf war after reports indicated that the U.S. rejected Iran's earlier proposal.

The U.S. Dollar Index, DXY, which measures the Greenback against a basket of other major currencies was last seen trading at 98.61, up by 0.15 (or 0.15%) today.

According to the Automatic Data Processing Research Institute, in the U.S., private employers added an average of 39,250 jobs per week through the four weeks ending April 11.

Data from Federal Housing Finance Agency showed that Housing Index decreased to 441.40 in February from 441.50 in January.

Against the Euro, USD was trading at 1.171, up by 0.06%.

Against the GBP, it was trading at 1.352, up by 0.10%. In the U.K., shop price inflation rose 1.00% year-on-year in April, down from 1.20% in March, and below market expectations of 1.50%.

Against the USD, the Japanese Yen was trading at 159.629, down by 0.14%. In Japan, data from the Ministry of Internal Affairs and Communications revealed that unemployment rate rose to 2.70% in March, up from 2.60% in the previous month, slightly above market expectations. Jobs-To-Applications Ratio decreased to 1.18 in March from 1.19 in February.

Amid uncertainty over the Iran conflict and surging energy prices, the Bank of Japan kept its short-term policy rate unchanged at 0.75% at its April meeting.

The Swiss Franc was trading at 0.789, down by 0.48%; and the Canadian Dollar was trading at 1.368, down by 0.45%.

Against one unit of Australian Dollar, USD was trading at 0.718, up by 0.05%.

The ongoing U.S.-Iran war has entered the third month today.

U.S. President Donald Trump cancelled the planned second round of peace talks with Iran in Pakistan, last week.

Asserting that the U.S. has all the cards while Iran has none, Trump refused to send his envoys and observed that Iran can call the U.S. if they want a resolution.

Yesterday, Iran submitted a proposal through intermediaries to the U.S. outlining measures to end the gulf conflict.

Primarily, Iran wanted the U.S. to withdraw its naval blockade on Iranian ports and expressed willingness to reopen the Strait of Hormuz immediately in exchange. However, Iran wanted the crucial talks about its nuclear development programs to be held later.

Reportedly, Trump was not pleased with this idea while the U.S. administration remained silent.

Today, quoting sources close to the matter, CNN reported that Iran is preparing an updated version of the plan. Pakistan is awaiting this new proposal to relay it to the U.S.

Earlier through Truth Social, Trump announced that Iran wanted the U.S. to let the Strait of Hormuz be reopened at once and added that Iran had informed that they are in a state of collapse.

According to the CME Group's FedWatch Tool, investors are betting at a 100.00% chance that the Federal Reserve will hold its interest rates in its two-day meeting for April which commenced today.

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