Dollar Pulls Back Amid Iran Tensions Easing

The US dollar pulled back against its major peers at the start of Asian trading on Monday after the US paused its bombing campaign in Iran during the weekend.

This move prompted a drop in oil prices and boosted global investor confidence, causing the dollar to slump against the yen by 0.2% to 163.585 yen, its biggest decline since July 10.

The euro was up 0.2% at $1.1397, while the British pound rose by a similar magnitude to $1.3353.

Oil prices sank in early Asian trade, with Brent crude tumbling 4.7% to $92.19 after the US military temporarily halted its two-week long strikes.