CWG Markets: Iran was expected to recover from the conflict US dollar fell, investors to get out of the safe haven currency

21 May, 2021

Speaking with Israeli Prime Minister Benjamin Netanyahu, US President Biden said he expected the Palestinian Israeli conflict to be "significantly degraded.".

 

Speaking with Israeli Prime Minister Benjamin Netanyahu, US President Biden said he expected the Palestinian Israeli conflict to be "significantly degraded.".

On the evening of May 20 local time, it was confirmed that Hamas had reached a cease-fire agreement with Israel, and the two sides would start the cease-fire at 2:00 local time on the 21st. Biden promised humanitarian aid.

The dollar index fell 0.46% in late trading to close around 89.792. The US dollar fell back yesterday, hovering near the low level for several months, as a round of risk driven rally attracted investors to get out of the safe haven currency, reversing the rebound trend of the US dollar on Wednesday.

Spot gold once hit a high of $1874.97 / ounce, its highest level since January 29, and is now falling $10 from its high to a slightly lower level. Gold futures for June delivery of COMEX rose less than 0.1 per cent to close at $1881.90.

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