Forex
Dollar Rises on US Move to Isolate Iran
The US dollar gained value following an announcement by US Treasury Secretary Scott Bessent that the country will cut off Iran from the global financial system.
Bessent described this move as 'economic D-Day' for Iran, stating that any country doing business with Iran would also face sanctions.
The USD index rose 0.2% in its best day for two weeks, while other currencies such as the AUD/USD and NZD/USD fell by 0.3% each.
The Canadian dollar was particularly affected, dropping 0.6% due to a breakdown in trade talks.