The dollar fell slightly due to risks to the independence of the Federal Reserve and hopes for peace in the Iran war.

Under the influence of renewed risks to the independence of the Federal Reserve and cautious optimism regarding the Iran war and peace agreement, the US dollar edged lower after touching a six-week low overnight. President Trump threatened to dismiss Federal Reserve Chairman Jerome Powell if he continues to serve as a board member after his term ends. Mediators are reportedly pushing for an extension of the ceasefire agreement in the Iran war and conducting a second round of peace talks, but progress is slow. The Iranian armed forces have threatened to block shipping in the Persian Gulf, the Sea of Oman, and the Red Sea if the US continues to block Iranian ports. The DXY dollar index fell by 0.1% to 98.003, after briefly dropping to 97.832 overnight.