Dollar Set for First Weekly Gain in Three Weeks
On April 24, Friday, the dollar is poised to achieve its first weekly gain in three weeks, as stalled peace negotiations between the U.S. and Iran have dashed hopes for a rapid easing of tensions in the Middle East. With a ceasefire agreement between Lebanon and Israel set to expire on Sunday, Iran has demonstrated its control over the Strait of Hormuz by releasing video footage of its special forces conducting a raid on a giant cargo ship, making the timeline for reopening this shipping route uncertain. A senior analyst at MUFG Bank stated, 'Reports indicate that negotiations between the U.S. and Iran have made no progress, yet oil prices remain strong, which is supporting the dollar's upward trend.' (Jin Shi)
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