The dollar rose as the negotiations between the United States and Iran broke down.

The US dollar rose slightly due to the breakdown of weekend talks between the US and Iran, which pushed up oil prices and dampened risk appetite. US President Trump said he doesn't care if Iran returns to negotiations. He also confirmed that the US blockade of ships entering and leaving Iranian ports will take effect at 10:00 ET on Monday. The strength of the US dollar is attributed to its safe-haven status and its position as a net exporter of oil. However, Thu Lan Nguyen from Deutsche Bank stated in a report that market reactions have been limited, indicating that many still hope for a de-escalation of the conflict. The DXY dollar index rose by 0.3% to 98.976.