SWX:UBXN.SW 26 November 2025

April 27, 2026, 5:35 PM EDT. The U.S. dollar dipped from a 2.5-week high amid reports that Iran proposed reopening the Strait of Hormuz, a strategic oil passage, suggesting potential easing of US-Iran tensions. Axios reported the plan includes extending the ceasefire before nuclear talks, with the White House reviewing the proposal. Despite higher crude oil prices lifting inflation expectations-a factor that usually strengthens the dollar-uncertainty over US Federal Reserve interest rate moves and rate hike cutbacks in 2026 weighed on the currency. The dollar index fell 0.05%, while the euro saw modest gains supported by dollar weakness but constrained by weak German consumer and business confidence. The yen weakened slightly amid Japan's rising stock market and higher bond yields. Markets now price near zero chance of a Fed rate hike at this week's meeting.