Bloomberg U.S. dollar index hits biggest decline in more than a month Trump hints that a U.S. -Iran deal is imminent

On June 12, the Bloomberg US dollar index hit its largest decline in more than a month after US President Trump canceled the original attack plan on Iran and said that the US-Iran agreement only had to be finalized on final documents. The Bloomberg Dollar Index fell 0.3% on Thursday, its worst one-day performance since May 6. U.S. Treasury yields also followed oil prices lower. "This afternoon's news clearly sends a more constructive tone and boosts market expectations that a peace agreement is imminent, which puts pressure on the dollar," said Alex Cohen, currency strategist at Bank of America. Since the U.S. and Israeli attacks on Iran in late February, the Bloomberg U.S. dollar index has risen 1.6%, mainly due to investor demand for safe assets. The US dollar and oil prices also show a high degree of correlation, and the movements are usually synchronized.