The dollar index (DXY00) today is adding to Tuesday's losses and is down by -0.51%. The dollar is under pressure due to optimism that the war in Iran will end soon. Today's stock rally has also reduced liquidity demand for the dollar. The dollar recovered from its worst level on better-than-expected US economic news today, on Mar ADP employment, Feb retail sales, and the Mar ISM manufacturing index.
President Trump said he foresaw the US ending the war with Iran within two to three weeks. Mr. Trump said Iran has asked for a ceasefire, which he will consider when the Strait of Hormuz is "open, free and clear." Meanwhile, the US and Israeli forces kept up their bombardment of Iran, and Israel, Bahrain, Kuwait, and the UAE all reported attacks by Iran, with Qatar saying a fuel oil tanker was struck in Qatari waters.
