Dollar Weakens Amid Reports of Iran's Proposal to End War

The dollar has weakened following media reports that Iran has proposed a new plan to end the war with the United States. According to Jin10, ING analyst Chris Turner noted that the decline might be limited due to high oil prices and investors assessing central banks' responses to rising inflation and weak growth. This week, the Bank of Japan, the Federal Reserve, the Bank of England, and the European Central Bank are set to announce their interest rate decisions.