Bloomberg Dollar Index Falls Most in Over a Month as Trump Hints at US-Iran Agreement Imminent.

The Bloomberg Dollar Index recorded its biggest drop in over a month, after US President Trump canceled the planned attack on Iran and mentioned that the US-Iran agreement only awaits final agreement on the document. The Bloomberg Dollar Index fell 0.3% on Thursday, marking its worst single-day performance since May 6. US Treasury yields also fell along with oil prices. Alex Cohen, a foreign exchange strategist at Bank of America, said, "The news this afternoon clearly releases a more constructive tone, boosting market expectations for an imminent peace agreement, which puts pressure on the dollar." Since the US and Israel attacked Iran at the end of February, the Bloomberg Dollar Index has risen by 1.6%, mainly due to investors' demand for safe assets. The dollar and oil prices also show a high degree of correlation, with their trends usually moving in sync.