U.S. Dollar Inches Higher Amid U.S.-Iran Conflict, U.S. Economic Data Release

(RTTNews) - The U.S. Dollar value edged higher as the U.S.-Iran standoff over the next round of peace talks kept the Strait of Hormuz effectively shut, pushing oil prices higher. In addition, more-than-expected U.S. pending home sales numbers and strong month-over-month retail sales supported the U.S. dollar.

The U.S. Dollar Index, DXY, which measures the Greenback against a basket of other major currencies was last seen trading at 98.36, up by 0.29 (or 0.30%) today.

While against the Euro, USD was trading at 1.17489, up by 0.33%.

Against the GBP, the USD was trading at 1.35081, up by 0.18%. In the U.K., according to the Office for National Statistics, the unemployment rate fell to 4.90% in the three months to February 2026. The decline in unemployment coincided with a rise in economic inactivity. The number of employed increased by 24,000 to 34.3 million in the three months to February following an 84,000 increase in the previous period.

Against the USD, the Japanese Yen was trading at 159.340, down by 0.34%; the Swiss Franc was trading at 0.78056, down by 0.32%; and the Canadian Dollar was trading at 1.36566, down by 0.10%.

Against one unit of Australian Dollar, USD was trading at 0.71582, up by 0.27%.

On the geo-political front today, the flare-up of tensions that restarted between the U.S. and Iran yesterday, diminishing expectations of a permanent end to the U.S.-Iran hostilities, continued to draw investors' attention.

The two-week ceasefire in the war between the U.S.-Israeli versus Iranian forces, announced by U.S. President Donald Trump earlier in April, comes to an end by tomorrow.

Trump declined to extend the ceasefire.

Through a series of social media posts and a couple of interviews, Trump asserted that Iran will come for an agreement since they do not have a choice but warned that U.S. bombings will restart if they fail to reach a deal.

After the U.S. capture of an Iranian-flagged ship in the Strait of Hormuz by U.S. forces, Iran disagreed to participate for a second round of peace talks that were supposed to take place yesterday in Pakistan.

Later, a section of media outlets reported that Iran might return to talks.

The New York Times reported that U.S. Vice President JD Vance's trip to Pakistan for the next round of peace talks has been put on hold with Iran unresponsive to American positions.

However, the prevailing uncertainty renewed supply-disruption concerns, and as a result, crude oil rose heavily, adding to inflationary pressure.

On the economic front, U.S. Census Bureau data revealed that retail sales in the U.S. rose sharply by 1.70% in March, exceeding expectations of 1.40% and increased 4.00% in March over the same month in the previous year.

The National Association of Realtors data revealed that the pending home sales in the U.S. rose by 1.50% from the previous month in March.

On the monetary front, the U.S. Federal Reserve Chair nominee Kevin Warsh appeared before the committee for Senate Banking for his confirmation hearing.

With the term of current Chair Jerome Powell to end soon, U.S. President Donald Trump selected Warsh as his replacement. Powell is undergoing a criminal probe ordered by the U.S. Department of Justice related to the $2.5 billion renovation of the U.S. Fed's building.

Trump has been a votary of a low-interest rate regime and Warsh's appointment, when confirmed, could improve chances of an interest rate slashing in the near-term, according to analysts.

Of note, in his testimony, Warsh endorsed Fed's independence.