Dollar Hits Two-Month High Amid Ongoing US-Iran Negotiations

The US dollar rose in uneven trading on Tuesday, reaching a two-month high of 100.59 as investors weighed the impact of Iran's proposal to reopen the Strait of Hormuz and potential revivals of negotiations with the United States.

Oil prices had settled down about 1% after earlier hitting highs due to US President Donald Trump's comments on the three-hour meeting between US officials and the Iranian delegation.

Federal Reserve Bank of Boston President Susan Collins said she supported last week's interest rate increase amid risks that future inflation will be above its 2% target.

The dollar index had risen as much as 0.29% to 100.70, but fell as low as 0.11%, with the euro down 0.18% at $1.1441.