Dollar Holds Firm Despite Easing Middle East Tensions

The US dollar showed surprising resilience in the face of easing Middle East tensions, despite crude oil prices plummeting by -11.3% on Monday after the US announced it had paused its attacks on Iran.

This move allowed room for negotiations between the two countries, but markets are cautiously optimistic that talks will be productive. President Trump has threatened strong military action against Iran if negotiations fail, which could potentially impact the dollar's performance.

However, even with this potential risk, the US dollar barely budged, falling by as little as 0.25% from its week-long open and reaching a 23-high by the day's close.