The dollar is weakening, affected by the prospect of the end of conflict in the Middle East.

Sina Finance News on March 31st, the US dollar softened after reaching a 10-month high against a basket of currencies overnight. Reports indicate that US President Trump is willing to end military strikes against Iran, even as the Strait of Hormuz remains largely closed. Analysts at Deutsche Bank stated in a report that although the Strait of Hormuz is unlikely to return to normal in this situation, the prospect of the conflict ending soon has boosted risk appetite. They also mentioned that after Federal Reserve Chairman Jerome Powell stated that inflation expectations are well anchored in the short term, the market no longer anticipates the possibility of a US rate hike. The DXY dollar index fell by 0.1% to 100.455, after reaching a high of 100.643 overnight.