Dollar Rebounds as Trump Warns of 'Rapid Annihilation' for Iran

The US dollar rebounded after Donald Trump's speech at the UN, where he told Iran to reach an agreement or face 'rapid annihilation', predicting that a deal would likely follow the US elections.

This shift in tone has put pressure on foreign currencies and European indices, as well as precious metals. The rebounding oil prices, which have been trading above $100 a barrel, should keep inflation concerns alive and limit the dollar's downside.

The USD/CHF pair is expected to continue finding support on dips, thanks to growing expectations that the interest rate differential between the US and Switzerland will further expand.