Forex News: U.S. Dollar Slips Following Trump's Reassurance On U.S.-Iran

U.S. Dollar Slips Following Trump's Reassurance On U.S.-Iran Deal

(RTTNews) - The U.S. Dollar value ticked lower after crude oil prices plunged following the reassurance from U.S. President Donald Trump that a U.S.-Iran deal could happen in a couple of days and that the Strait of Hormuz will reopen soon after the agreement is signed.

The U.S. Dollar Index, DXY, which measures the Greenback against a basket of other major currencies was last seen trading at 99.95, down by 0.09 (or 0.09%) today.

While against the Euro, USD was trading at 1.154, down by 0.09%.

Against the GBP, USD was trading at 1.338, down by 0.31%. The U.K. retail sales increased by 3.70% year-on-year on a like-for-like basis in May 2026, exceeding market expectations for a 0.60% gain.

Against the USD, the Japanese Yen was trading at 160.383, down by 0.13%; the Swiss Franc was trading at 0.798, down by 0.07%; and the Canadian Dollar was trading at 1.395, up by 0.02%.

Against one unit of Australian Dollar, USD was trading at 0.703, up by 0.24%.

Last Wednesday, Israel and Lebanon jointly announced a ceasefire.

However, after reports of Israel attacking Lebanon emerged, on Sunday, Iran fired a wave of missiles towards northern Israel.

In retaliation, Israel launched counterattacks across central and western Iran.

In support of Hezbollah, Yemen's Houthi militant group launched strikes on Israel.

U.S. President Donald Trump urged both the nations to stop attacking each other and later, Israel and Iran agreed to a ceasefire.

Today, Trump told reporters that Israel and Iran agreed to stop the attacks following his appeal to exercise restraint.

Trump also announced that the U.S. is in the final throes of a very good, strong and powerful deal with Iran which according to him could be reached within two or three days.

Hinting that the deal will not allow Iran to procure or develop a nuclear weapon, Trump observed that the Strait of Hormuz will be reopened soon after the signing of the agreement.

Trump claimed that the naval blockade he had earlier enforced on Iranian ports has been more effective than bombing.

Maintaining his earlier stance Trump stated that Iran is desperate to make a deal with the U.S.

Reflecting the third consecutive week of easing job growth, the U.S. Automatic Data Processing data revealed that private employers added an average of 29,000 jobs per week over the four weeks ending May 23.

Data from the Bureau of Economic Analysis revealed that the U.S. trade deficit narrowed to $55.90 billion in April from a revised $56.60 billion in March, beating market expectations.

Existing home sales in the U.S. rose by 3.20% from the previous month to an annualized rate of 4.17 million.

The U.S. Federal Reserve is set to announce its interest rates after its two-day meeting on June 16-17 under the new Fed Chair Kevin Warsh.

Following the solid jobs report from last Friday, according to the CME Group's FedWatch Tool, investors are now betting at a 98.20% chance that the Fed will maintain the interest rates at the current level.

In a Reuters poll conducted from June 4 through June 9, nearly 70% of economists polled speculated that the key rate would stay in the current 3.50% to 3.75% range for the rest of 2026.

While many economists have pushed rate cut expectations to next year, some have dropped it altogether.

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