The dollar index (DXY00) today is up by +0.15%. The dollar is climbing today on increased safe-haven demand after the US-Iran peace talks broke down over the weekend, threatening to escalate hostilities in the Middle East. The dollar fell back from its best level today after US Mar existing home sales fell more than expected to a 9-month low.
President Trump ordered a blockade of the Strait of Hormuz following the deadlocked peace talks over the weekend between the US and Iran. President Trump said the US will begin a full naval blockade of the Strait of Hormuz today and threatened to retaliate in the event of Iranian resistance. Iran said it would target all ports in and close to the Persian Gulf if its own shipping hubs are threatened.
