West Asia War LIVE: Iran halts strikes as Trump gives space to talks
The dollar slumped against its major peers at the start of Asian trading on Monday after the U.S. paused its bombing campaign in Iran during the weekend, prompting a drop in oil prices and boosting global investor confidence.
Against the yen, the U.S. dollar was down 0.2% at 163.585 yen, its biggest decline since July 10. The euro was up 0.2% at $1.1397, while the British pound rose by a similar magnitude to $1.3353.
Oil prices sank in early Asian trade, with Brent crude tumbling 4.7% to $92.19 after the U.S. military temporarily halted its two-week long strikes. Iran will halt its own attacks as long as the U.S. does the same, a senior Iranian official told Reuters on Sunday, following a China-led push to resume stalled diplomatic efforts in Pakistan to end the war.
– Reuters
