ING: Reopening Hormuz Strait Key to Dollar's Decline

Odaily News According to Francesco Pesole of ING Group in a report, reopening the Hormuz Strait may be a necessary condition to drive a more significant decline in the US dollar. Trump stated that US military operations in Iran could end within two to three weeks, while Iranian President Pezeshkian said Tehran has the "necessary will to end the war" if certain conditions are met. However, it remains unclear whether the Hormuz Strait will reopen. Pesole noted: "We believe the Dollar Index DXY could only fall back to the March 23 low of 99.0 if the timeline and path for restarting the strait become clearer." (Jin10)