Dollar Retreats Against Major Currencies Amid Boost in Investor Confidence

The US dollar has retreated against major currencies at the start of Asian trading on Monday. This move comes after the United States halted its airstrikes on Iran earlier in the week, leading to lower oil prices and boosting investor confidence globally.

The US Dollar Index, which measures the performance of the dollar against a basket of six major currencies, fell 0.25% to 101.23 points at the start of a week packed with central bank meetings, including the Federal Reserve's policy meeting.

The dollar declined by 0.2% against the Japanese yen to 163.585, marking its biggest drop since July 10. The euro rose 0.2% to $1.1397, while the British pound witnessed similar gains, rising to $1.3353.