Singapore Dollar oil Hormuz optimism pushed the U.S. currency lower on Monday as Brent crude fell below USD 100 a barrel in thin holiday trading.
Reuters reported that the dollar index slipped 0.1% to 98.95, its weakest level since May 18. The euro rose 0.3% to USD 1.1636, while sterling gained 0.3% to USD 1.3476.
Brent crude fell 5.4% to USD 97.91 a barrel. U.S. West Texas Intermediate dropped 5.7% to USD 91.10, according to Reuters figures in the source report.
The Australian dollar gained 0.5% to USD 0.7162. The New Zealand dollar rose 0.4% to USD 0.5869 as risk-sensitive currencies benefited from weaker safe-haven demand.
Read: Oil Prices Iran Deal Hopes Push Brent Below $99
Westpac analysts said early Sydney trade showed a broad U.S. dollar selloff, with riskier currencies gaining. Chris Weston, head of research at Pepperstone Group, said markets still saw a deal as the base case.
U.S. President Donald Trump said on Truth Social that the U.S. blockade of ships in the Strait of Hormuz would remain until an agreement is reached, certified and signed.
