Dollar Slumps as Iran Tensions Fuel Oil and Gold Rally

The US Dollar Index (DXY) has started the week on a downward trend, slipping towards two-month lows and holding below the 100.00 mark.

This comes as August's underwhelming US data on jobs, inflation, and retail sales has steadily trimmed bets on a Federal Reserve move next month.

In other developments, a senior Iranian official stated that Tehran is shifting to a 'fully offensive' stance, warning of escalation in the Strait of Hormuz if diplomacy fails. This sent Crude prices soaring over 2% higher and kept Gold firm under $4,400 as the new week begins.