Progress around ceasefire discussions reduced immediate pressure and softened demand for the US dollar.

Expectations for renewed US-Iran dialogue and a possible extension of the ceasefire helped reduce immediate pressure.

While the United States continues to enforce a naval blockade on Iranian oil exports through the Strait of Hormuz, Tehran is reportedly considering a temporary suspension of shipments to support renewed negotiations.

The dollar index hovered near 98.3, holding close to six-week lows as improving sentiment encouraged a shift toward riskier assets.

US stock futures started the week lower after Trump announced a blockade of the Strait of Hormuz following the collapse of US-Iran negotiations.

Gold and silver extended gains for a third straight week, supported by softer energy prices and a weaker dollar.

Market participants evaluated the fragile ceasefire between the United States and Iran alongside ongoing Middle East tensions.

A temporary ceasefire in the Middle East eased immediate pressure on energy supply routes and reduced demand for defensive assets, leading the US dollar to soften.