Dollar Weakens as Markets Reassess Rate Hike Prospects Amid Escalating Iran-US Tensions

The US dollar has edged lower against the euro as markets trim their bets on rate hikes. Meanwhile, a senior Iranian official spoke to Reuters about Iran's new policy direction, shifting from defensive to 'fully offensive' in dealing with the US.

The official stated that pressuring the US or relying on mediators for a lasting peace is not realistic. They added that Iran has set a deadline of a few weeks for the full implementation of the Memorandum of Understanding (MOU) by the US.

If diplomacy fails, all Iranian entities will be prepared to escalate tensions in the Hormuz Strait and the region. The official also emphasized that Iran will not wait indefinitely for the US to continue the naval blockade.