ING: Limited Downside for the Dollar, Key Factors Are the Strait of Hormuz and Ceasefire Progress

Golden Ten Data reported on March 10 that Chris Turner from ING stated in a report that the US dollar declined after Trump indicated that the Iran war might soon end, but the drop may be limited. He pointed out that the most crucial factor is the reopening of the Strait of Hormuz and the resumption of oil production in the Middle East. "Until investors see news in this regard—most likely related to some form of ceasefire—we remain skeptical that the US dollar will quickly give back all the gains achieved over the past two weeks."