The US dollar showed volatility on Tuesday, closely tracking the fluctuations in oil prices. The decline in oil prices came after Iran reported ongoing diplomatic talks with the US, aiming to resolve their eight-month conflict. Brent crude futures experienced a significant drop of over 7% on Monday, marking their steepest single-day fall in months.
Meanwhile, the Australian dollar remained stable as investors awaited the Reserve Bank of Australia's upcoming rate decision. The market's focus on this event underscored its potential impact on the Aussie's performance.
Other notable financial developments included reports of a US strike on Iran's Qeshm Island, ongoing discussions for a negotiated settlement, and updates on major companies like SpaceX, Palantir, and Apple.