The US dollar suffered its strongest drop in a month: NYT writes about Iran's peace initiative
The New York Times' interlocutors told the New York Times that despite Iranian officials' demonstrative refusal to negotiate with the U.S., they did contact the U.S. side after the conflict began with an offer to discuss the terms of a cease-fire
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The dollar showed the sharpest drop in almost a month after the New York Times reported that Iranian representatives offered to discuss terms for ending the war with the U.S. and Israel, Bloomberg notes.
Against this background, the Bloomberg Dollar Spot index (an index of the dollar exchange rate against a basket of major world currencies according to Bloomberg) weakened by 0.4%, after which it partially recovered the fall. Prior to that, the index grew by 1.4% over the previous two sessions, as the conflict in the Middle East again caused inflationary concerns in the markets and spurred demand for protective assets.
The reported willingness to negotiate should be treated "with a degree of skepticism," said Mizuho International strategist Evelyn Gomez-Lichty (quoted by Bloomberg). She noted that, according to New York Times interlocutors, the attempt at a peaceful solution to the military conflict was made a day after the operation against Iran began, on Feb. 28, while U.S. officials have expressed doubts about the sincerity of the approach.
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