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Dollar Falls as Investors Assess Stalemate in US-Iran Negotiations

Economy

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New York, April 27 (QNA) - The dollar fell Monday as investors assessed the diplomatic stalemate in US-Iranian negotiations and awaited a busy week of central bank meetings.

The dollar index, which measures the performance of the US currency against a basket of six major currencies, fell 0.37 percent to 98.27 points.

The index had recorded gains for two consecutive months but is now trending downward this April.

The dollar benefited in March from the rush to safe-haven assets as the war raged, but has lost most of those gains amid hopes for a peace agreement this month.

The dollar was steady at 0.78465 against the Swiss franc, while the euro rose 0.11 percent to USD 1.1733.

The Japanese yen rose 0.11 percent to 159.2 per dollar, remaining below the 160 level that traders believe could prompt Tokyo to intervene in the currency market.

The British pound gained 0.16 percent to USD 1.3553, while the Canadian dollar climbed 0.49 percent to USD 1.362.

The Pakistani government, which has been mediating between Washington and Tehran since the ceasefire agreement was reached earlier this month, has intensified its efforts to revive talks after direct negotiations collapsed last week. (QNA)

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