Market sentiment improves as US and Iran near a deal, weakening USD demand and lifting risk assets like S&P 500 futures.
The Euro climbed to 1.1645 against the US Dollar in early European trading, supported by optimism over a potential US-Iran agreement. The risk-on mood reduced demand for the safe-haven USD, pushing the Dollar Index (DXY) down near 99.00.
S&P 500 futures surged nearly 0.9% to around 7,540, reflecting strong investor appetite for riskier assets. The US Dollar weakened most against the Australian Dollar, as geopolitical developments overshadowed other market drivers.
US President Donald Trump indicated a deal with Iran is largely negotiated, including the reopening of the Strait of Hormuz. However, he later noted no urgency, stating time favors Washington. Oil prices declined amid the news.