The U.S. dollar continues to weaken amid multiple simultaneous pressures: expanded sanctions on Iran by the Trump administration and increased Treasury bond buyback operations. The dollar index hovers near multi-month lows while long-end yields have temporarily declined. Sanctions on Iran are reducing the likelihood of a successful U.S.-Iran nuclear deal and could lead to constraints in oil supply. These combined geopolitical tensions and monetary strategies are fueling volatility in currency markets, with potential ripple effects on gold and crude oil prices.
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