Reuters: Dollar declines on Middle East truce hopes

"You have very clear guidance coming from the Trump administration that they're looking for an ​exit ramp here and that's playing into market expectations that there will eventually be a symbolic deal ⁠between the U.S. and Iran that allows attacks to cease and for Iran to let the strait reopen," said Karl Schamotta, chief ​market strategist at Corpay Cross-Border Solutions in Toronto. "The second thing that's important, at least in the context of the foreign exchange markets, is that there's just ​generally a lack of conviction - traders are not willing to place large directional bets on anything happening, given that they can be whipsawed or wrong-footed by the next tweet from the White House."

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