Reuters: US dollar nudges lower on hopes of Middle East de-escalation

"Investors are seeing light at the end of the tunnel for the conflict in the Middle East and are unwinding short positions on the currencies most exposed to a sustained commodity-price shock," said Karl Schamotta, chief market strategist, at Corpay Cross-Border Solutions in Toronto. "Reports of back-channel communications between U.S. and Iranian intelligence organizations are pairing with President Trump’s apparent backpedaling on earlier demands for regime change to reduce the likelihood of a wider regional conflagration."

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