Rabat: The US dollar lingered close to six-week lows today, surrendering nearly all the gains it had accumulated since the outbreak of the Middle East war, as mounting hopes for another round of negotiations between Washington and Tehran boosted risk appetite. The dollar index, which tracks the greenback against a basket of six major currencies, stood at 98.13, hovering near its weakest level in more than six weeks.

According to Oman News Agency, the euro, which has fully recouped its war-driven losses, was last flat around $1.1791, close to its highest since 2 March 2026. Sterling held steady at $1.35715, while the Japanese yen was marginally weaker at 158.975 per dollar. The risk-sensitive Australian dollar touched its strongest level since 12 March, holding steady at $0.7124 in early trading.

The dollar emerged as a key beneficiary of safe-haven flows in March, but growing optimism over a potential ceasefire and a diplomatic resolution has pushed it down nearly 1.7 percent this month against other major currencies.