Muscat: The dollar retreated against most major currencies today after the US signaled it may be nearing a deal with Iran: The euro stood at $1.1714 and sterling traded at $1.35685, both up roughly 0.2% so far on the day. The Australian dollar fetched $0.7208, up nearly 0.4% in early trade, and the New Zealand dollar was up 0.3% at $0.5905. The dollar index fell 0.01% to 98.299. Against the yen, the dollar traded at 157.62 yen, down 0.17% from late US levels, still well above last week's intervention low despite easing oil prices.
According to Oman News Agency, the movements in currency values reflect investor reactions to potential geopolitical developments. The possibility of a US-Iran agreement is seen as a factor that could influence global markets, including currency and oil prices. The market's response indicates cautious optimism, with traders adjusting positions amid speculation about the deal's potential impact on international trade and economic stability.