Weaker US dollar and sharp drop in oil prices; temporary halt in US-Iran hostilities boosts global market confidence

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智通财经2026/07/27 01:41

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In early Asian trading on Monday, the US dollar generally declined against major currencies, with the US Dollar Index once dropping by 0.33% to 101.12. Previously, the United States suspended its airstrike operations against Iran over the weekend, leading to a sharp fall in international oil prices and a recovery in global investor risk appetite.
The US dollar fell about 0.2% against the Japanese yen, quoted at 163.585 yen, potentially marking the largest single-day decline since July 10. The euro once rose 0.38% against the US dollar to 1.1412; the British pound posted a similar increase, reaching as high as 1.3362.
In terms of oil prices, Brent crude oil futures in early Asian trading once dropped by more than 6% to $89.60. An Iranian senior official stated on Sunday that as long as the US stops its attacks, Iran will also halt its retaliatory actions. Meanwhile, with China’s facilitation, various parties are working to restart the diplomatic process in Pakistan in hopes of finding a way to end the current conflict.
Analysts at Westpac Bank stated in a research report that there are reports indicating that Pakistan and Iran are considering a new round of peace talks with the United States, and with continued oil exports from the Middle East region, these factors have jointly boosted market sentiment. Although tensions in the region had continued to escalate earlier, the US decision to pause airstrikes over the weekend provided some breathing space for the markets.
This week, markets will usher in several central bank meetings, including the Federal Reserve policy meeting. Traders are currently increasing their bets that the Federal Reserve may raise interest rates at the upcoming meeting, though the overall probability is little changed from last Friday. According to the CME FedWatch tool, federal funds futures are pricing in a 36.3% implied probability of a 25 basis point Fed rate hike.

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Weaker US dollar and sharp drop in oil prices; temporary halt in US-Iran hostilities boosts global market confidence

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