MUFG’s Head of Research Derek Halpenny notes the US Dollar has stabilised after a modest rebound as markets reassess the fragile Middle East ceasefire and its impact on risk sentiment.

Brown Brothers Harriman’s Elias Haddad (BBH) notes that interest rate differentials are keeping the US Dollar Index (DXY) in a 96.00–100.00 range, even as recent ceasefire optimism faded on compliance doubts.

The US Dollar (USD) has trimmed some losses to consolidate right above the 99.00 level on Thursday, after bouncing from lows at 98.50 on Wednesday. The safe-haven US Dollar has picked up as investors come to terms with the fragility of the ceasefire in Iran.

Dow Jones futures fall 0.36% to near 47,950 during European hours on Thursday, ahead of the regular opening in the United States (US). Meanwhile, S&P 500 and Nasdaq 100 futures also lose 0.38% and 0.37% to near 6,800 and 25,000, respectively, at the time of writing.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining flat after three days of losses and hovering around 99.00 during the Asian hours on Wednesday.

The US Dollar Index (DXY) continued to grind lower during the front half of the US trading session on Wednesday, falling roughly 1% from the prior session's close near 100.00 to tag a low around 98.50 as the US-Iran ceasefire announcement triggered a broad wave of risk-on selling in the US Dollar.

Dow Jones Industrial Average (DJIA) futures surged around 1,200 points on Wednesday, up close to 2.6%, after a last-minute diplomatic breakthrough averted what had been shaping up as a catastrophic escalation of the US-Iran war.

MUFG’s Head of Research Derek Halpenny highlights that a two-week ceasefire between the US, Israel and Iran has sharply weakened the US Dollar as risk sentiment improves and Brent Oil falls.

The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, comes under heavy selling pressure on Wednesday, sliding to one-month lows after the United States and Iran agreed to a two-week ceasefire deal.

OCBC strategists Sim Moh Siong and Christopher Wong stress that markets are being driven almost entirely by Iran headlines, with Oil and yields reacting to ceasefire developments.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that the US-Iran ceasefire has pushed financial markets into relief mode, with Brent, equities and bonds reacting positively and the Dollar falling sharply.

ING’s Chris Turner notes that risk assets are rebounding after the Iran ceasefire, with higher equities, a bullish steepening in yield curves and broad currency gains against the US Dollar (USD).

Dow Jones futures rise 2.32% to near 47,900 during European hours on Wednesday, ahead of the regular United States (US) open. Meanwhile, S&P 500 and Nasdaq 100 futures also gain 2.49% and 3.19% to near 6,820 and 25,150, respectively, at the time of writing.

Rabobank strategists Michael Every and Bas van Geffen note that a temporary ceasefire between the United States (US) and Iran has sharply reduced immediate risk premia, with Brent lower and equities higher. However, they stress this is only a short truce, leaving at least two weeks of uncertainty.

Deutsche Bank analysts report a strong recovery in S&P 500 futures after the US–Iran two-week ceasefire announcement and easing war fears. Futures are now less than 2% below pre-strike levels and well above the late-March lows.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts heavy selling on Wednesday and plummets to a nearly one-month trough during the Asian session in reaction to the US-Iran ceasefire news.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.05 during the Asian trading hours on Wednesday.

The US Dollar Index (DXY) held near 99.80, not far from last week’s 100 peak, broadly supported as markets remain locked on the Iran conflict and, in particular, on United States (US) President Donald Trump’s deadline for 8:00pm EST tied to the Strait of Hormuz.

The Dow Jones Industrial Average (DJIA) dropped around 380 points, or 0.8%, snapping a four-session winning streak as risk appetite collapsed in the hours before President Trump's self-imposed deadline for Iran to agree to reopen the Strait of Hormuz.

The Wall Street Journal reported on Tuesday that Iran has cut off direct communications with the United States (US) following President Donald Trump's threat to destroy Iran's whole civilization.

Deutsche Bank’s Henry Allen argues that the S&P 500’s modest pullback versus past Oil shocks reflects markets pricing a short conflict, resilient macro data and still‑dovish central banks.

Societe Generale’s Kit Juckes discusses Robin Brooks’ view that the Dollar looks significantly overvalued versus G10 rate differentials and could fall sharply on a ceasefire, with Oil tumbling and safe-haven flows reversing.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that a prolonged energy shock from the Iran conflict heightens financial stability risks and supports the Dollar beyond what rate differentials imply.

Dow Jones futures fall 0.2% to near 46,800 during European hours on Tuesday, ahead of the regular United States (US) open. Meanwhile, S&P 500 and Nasdaq 100 futures also decline 0.34% and 0.45% to near 6,620 and 24,250, respectively, at the time of writing.

ING’s Chris Turner notes the Dollar (USD) remains supported as investors await a White House deadline linked to the US-Iran conflict and elevated energy prices. Strong US jobs data and resilient activity could see markets price Federal Reserve (Fed) hikes if Oil rises further.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding ground after registering losses in the previous trading day and hovering around 100.00 during the European hours on Tuesday.

OCBC strategists Christopher Wong and Sim Moh Siong note that global markets are cautious as Hormuz risks and energy disruptions threaten to evolve into a broader energy shock. Survey data already show rising input costs and longer delivery times.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 100.10 during the Asian trading hours on Tuesday.

The Dow Jones Industrial Average gained a scant 120 points, or 0.3%, on Monday in the first session following the Good Friday market closure. The index pushed toward 46,700 in early trading before fading through the midday session and ultimately settling around 46,500.

The US Dollar Index (DXY) fell towards the 100.00 area on Monday as markets were weighed by United States (US) President Donald Trump’s latest Strait of Hormuz ultimatum against growing hopes for a ceasefire framework between the US and Iran.