US Dollar Index fell 1% to 98.90, marking its worst daily decline since April 21, 2025.
The decline followed a US‑Iran two‑week ceasefire agreement, prompting risk‑on sentiment and gains in US equity futures.
Euro rose 0.7% to 1.1680, GBP up 1% to 1.3424, and Yen strengthened as USD/JPY fell to 158.40.
Analysts note ceasefire revives Fed rate‑cut odds, but Wells Fargo expects inflation to stay sticky with PCE around 3.7% Q2.