Markets react to canceled U.S.-Iran negotiations, driving demand for safe-haven assets and energy commodities.
The U.S. dollar and oil prices rose after Vice President JD Vance canceled a planned trip to Switzerland for negotiations with Iran. The cancellation, attributed to unresolved logistics and uncertainty, disrupted early-stage peace talks and rattled markets.
Prior to the announcement, oil and the USD had shown muted movement amid mixed signals on diplomatic progress. Analysts noted the cancellation could delay broader geopolitical stability, supporting energy prices and the dollar.
Traders shifted toward safe-haven assets, with the USD index gaining modestly and crude futures climbing in early trading.