Dollar Falls as Markets Await Clarity on US-Iran Tensions

The European session was marked by mixed market moves, as traders continue to await clarity on US-Iran tensions. Oil prices remained higher, with WTI crude up 0.8% to $85.60 and Brent crude up 0.7% to $91.63.

The dollar took a hit, falling on the softer side in European morning trade as bond yields fell slightly. EUR/USD rose 0.2% to 1.1600 and USD/JPY dropped 0.3% to 159.15.

UK inflation data for July showed prices picking up, with core prices holding steady. This has kept the door open for a BOE rate hike by year-end, with GBP/USD rising 0.1% to 1.3547.