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The value of the U.S. dollar edged lower after President Donald Trump said the war with Iran would soon come to an end.
After President Trump said in a phone interview with CBS on the 9th (local time) that “the war is very complete,” the Bloomberg Dollar Spot Index fell 0.1%.
“From the market’s perspective, some of the possibility of an extreme surge in energy prices has been removed, though it has not disappeared entirely,” said Byifan Rai, managing director at BMO Asset Management.
“Trump’s remarks brought welcome relief to a market that had been under pressure,” said Pat Lokey, a foreign exchange strategist at JPMorgan Chase, adding, “We will have to see whether this situation actually continues.”
U.S. Treasury yields also pared their gains.
The yield on the 10-year U.S. Treasury note, which had surged to as high as 4.21% during the session, ended at 4.09%, down about 4 basis points (1bp=0.01 percentage point).
Gold and silver rebounded.
As of 9:17 a.m. Korea time on the 10th, April gold futures were trading at $5,144 per ounce, up 0.8% from the previous session. Silver futures rose 3.7%.
Bitcoin also turned higher. According to cryptocurrency exchange Coinbase, Bitcoin was trading at $68,972 at the same time, up 3.9% compared with 24 hours earlier.
This article is provided for informational purposes only and does not constitute investment advice.