The US dollar fell in early Asian trading on Monday, as markets were reassured by signs of a possible agreement between the United States and Iran that could lead to the reopening of the Strait of Hormuz, a vital maritime route for global oil trade.
This prospect has led to a drop in oil prices, which have fallen below $100 a barrel, and has stimulated investors' appetite for riskier assets.
Against the Japanese yen, the dollar fell 0,2% to 158,87 yen. The euro rose 0,3% to $1,1642, while the pound sterling gained 0,4% to $1,3485.
Markets remain cautious, however, after the US president's administration Donald Trump minimized the chances of a quick agreement with Iran despite discussions recently described as "encouraging".
Investors are closely monitoring the progress of the negotiations, as the Strait of Hormuz is a strategic point through which a significant portion of global oil and liquefied natural gas exports pass.
Geopolitical tensions in the Middle East had strongly supported the dollar in recent months, with investors favouring assets considered safe havens.
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