Dollar slumps as signs of deal to reopen Hormuz spur risk appetite

The dollar slipped at the start of Asian trading on Monday as hopes of a deal to reopen the ​Strait of Hormuz pushed oil prices below $100 per barrel, even as ‌the Trump administration played down the chances of reaching an agreement with Iran soon. Against the yen , the US dollar was down 0.2% at 158.87 yen, while the euro rose 0.3% ​to $1.1642 and the British pound gained 0.4% to $1.3485. Many global markets are ​closed for holidays on Monday, thinning liquidity across the region. The ⁠Australian dollar advanced 0.4% to $0.7160, while its kiwi counterpart tacked on 0.5% ​to $0.5877. “There are early signs that risk sentiment remains supported, early Sydney trade revealing ​a broad-based selloff in the USD, with ‘riskier’ currencies like the AUD benefitting as a result,” analysts from Westpac wrote in a research note.