Dollar Drops as Trump Announces Iran Talks, Delays Strikes
US President Donald Trump announced that talks with Iran are underway and said he would postpone strikes against Iranian energy targets. The Bloomberg Dollar Spot Index dropped 0.4% on Monday in New York, reversing earlier gains. Brent crude fell sharply below $100 a barrel. Iranian media later downplayed the existence of any negotiations.
The dollar fell after US President Donald Trump said he would postpone strikes against Iranian energy targets, prompting energy prices to decline. The Bloomberg Dollar Spot Index declined 0.4% Monday in New York trading, reversing gains from earlier in the session when it touched the highest level since December. Trump cited talks about ending the conflict that were later downplayed by Iranian media, but that was enough to bring relief. Brent crude fell sharply to below $100 a barrel and US Treasuries rebounded, sending yields across the curve lower on Monday, while stocks gained. TD Securities Head of FX Strategy Jayati Bharadwaj joins Bloomberg Businessweek Daily to discuss. She speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)