U.S. Dollar Ends Roughly Flat As Trump Rejects Halt In U.S.-Iran Talks

(RTTNews) - The U.S. Dollar value changed a little amid expectations of a U.S.-Iran peace deal after U.S. President Donald Trump's reassured uninterrupted negotiations going on between both the nations, contrary to Iranian media reports. However, inflationary concerns due to continued closing of the Strait of Hormuz capped the gains.

The U.S. Dollar Index, DXY, which measures the Greenback against a basket of other major currencies was last seen trading at 99.21, down by 0.04 (or 0.04%) today.

While against the Euro, USD was trading at 1.163, up by 0.01%, against the GBP, it was trading at 1.347, down by 0.09%.

Against the USD, the Japanese Yen was trading at 159.929, down by 0.17%; the Swiss Franc was trading at 0.787, down by 0.08%; and the Canadian Dollar was trading at 1.384, up by 0.01%.

Against one unit of Australian Dollar, USD was trading at 0.718, down by 0.29%.

The U.S.-Israel versus Iran war entered day number 95 today.

A Memorandum of Understanding between the U.S. and Iran was finalized over the past week to include an agreement to halt mutual attacks, reopening of the Strait of Hormuz by Iran, and extension of the current ceasefire for 60 days for Iran to negotiate with the U.S. on its nuclear ambitions.

Yesterday, CBS News reported that U.S. President Donald Trump wanted some edits made, focusing on points related to Strait of Hormuz and removal of Iran's enriched uranium.

However, after Israeli forces moved deeper into Lebanon following Israel's Prime Minister Benjamin Netanyahu's orders, the signing delayed.

Israel and Lebanon had agreed to a ceasefire in April, mediated by the U.S.

Iran's Tasnim news agency reported that enraged by Israel's expanded military offensive which violated the ceasefire, Iran suspended exchange of messages with the U.S.

However, reassuring the nation, Trump messaged that talks were going on with Iran at a rapid pace.

Separately, Trump had calls with Hezbollah representatives as well as Netanyahu and announced that he had secured a ceasefire and stated that both sides have agreed to halt their mutual attacks. Trump added that Israeli troops on their way to Beirut have been turned back.

Negotiators from Israel and Lebanon met today in Washington, D.C. for a two-day meeting to seek ways to end hostilities.

Lebanon's embassy in Washington released a statement confirming Hezbollah accepted a U.S. proposal for mutual cessation of all attacks.

In an interview with ABC News, Trump expressed optimism that he expected an agreement with Iran along with the reopening of the Strait of Hormuz over the next week.

At a Congressional hearing, U.S. Secretary of State Marco Rubio stated that there are indications that Iran's new Supreme Leader Mojtaba Khamenei is engaging in talks to end the war and asserted that Iran has agreed to negotiate aspects of its nuclear program.

While the Strait of Hormuz continues to remain shut, investors are assessing Trump's assurances with cautious optimism.

According to the U.S. Job Openings and Labor Turnover Survey, job openings increased by 731,000 to 7,618,000 in April, well above market expectations of 6,880,000, indicating labor market resilience. For the same period, the number of job quits fell to 2,977,000.

According to the CME Group's FedWatch Tool, investors are betting at a slender 1.40% chance of a quarter-point interest rate cut in the Federal Reserve's upcoming meeting on June 16-17.