The US Dollar weakens slightly amid rising geopolitical tensions and ahead of key ECB and Australian jobs data.
The US Dollar Index (DXY) fell toward 101.10 on Wednesday, extending losses as investors sought safety in gold and oil. Escalating tensions in the Strait of Hormuz contributed to the shift in sentiment, pressuring the greenback modestly against major peers.
The Euro recovered slightly from recent lows, while other major currency pairs showed limited movement. Markets remain focused on upcoming economic releases, including the European Central Bank’s policy decision and Australian employment figures, which could influence near-term direction.
Safe-haven assets, including gold and crude oil, rallied as geopolitical risks weighed on risk appetite. The dollar’s decline remained contained, reflecting cautious trading ahead of key data.