Iran’s denial of resuming US talks spurs modest USD rebound amid ongoing Gulf-mediated diplomatic efforts.
The US Dollar (USD) pared losses in European trading after Iran’s Foreign Ministry spokesperson stated Tehran is not engaging in direct talks with Washington. The US Dollar Index (DXY) remains 0.19% lower at 101.28 but shows signs of recovery from earlier declines.
Gulf countries continue mediation efforts, transmitting messages between the US and Iran, though Iran insists negotiations are not part of its approach. Talks with Oman over the Hormuz Strait remain positive, with no change in its operational status.
The USD, the world’s dominant reserve currency, accounts for over 88% of global foreign exchange turnover, averaging $6.6 trillion in daily transactions as of 2022.