The U.S. dollar weakened against most major currencies following news that the United States and Iran agreed to a two-week ceasefire, including plans to reopen the Strait of Hormuz, easing immediate concerns over global energy supply. Oil and gas prices fell sharply, with Brent crude down as much as 16 percent and European natural gas dropping up to 20 percent. Despite the agreement, regional tensions remain elevated, with reports of continued attacks and uncertainty around broader conflict dynamics, leading traders to question the durability of the de-escalation. Meanwhile, the New Zealand dollar strengthened as risk sentiment improved, and the Reserve Bank of New Zealand held rates at 2.25 percent while signaling a more hawkish stance, indicating a willingness to raise rates if inflation does not stay near 2 percent.
