Dollar Index Teeters Amid Buyback Hopes and Iran Sanctions Tension
The US dollar index oscillated around 98.9 as market participants weighed the potential effects of Treasury buybacks and Iran sanctions.
US Treasury Secretary Scott Bessent announced a series of measures to isolate Iran's economy, including secondary sanctions on countries engaging with Iran in key areas such as digital assets and shipping.
This development briefly lent support to the dollar, but with specific sanction details still unclear, dollar buying failed to gain sustained momentum.