ING: The reopening of the Strait of Hormuz is key to the US dollar’s decline

Golden Ten Data reported on April 1 that Francesco Pesole from ING stated in a report that reopening the Strait of Hormuz may be a necessary condition to drive a larger decline in the US dollar. Trump said that US military operations in Iran could end within two to three weeks, while Iranian President Pezeshkian said that Tehran has the "necessary willingness to end the war" if certain conditions are met. However, it is still unclear whether the Strait of Hormuz will reopen. Pesole stated: "We believe that only when the timetable and path for the reopening of the Strait become clearer will the US Dollar Index (DXY) possibly fall back to the March 23 low of 99.0."