• US Dollar Index may weaken as safe-haven demand fades amid rising optimism over a diplomatic US-Iran resolution.
• US Vice President Vance cited “significant progress” in initial Iran talks in Pakistan, with follow-up discussions likely within days.
• Softer US PPI reinforced easing inflation pressures, reducing the need for the Federal Reserve to raise rates.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is halting its seven-day losing streak and trading around 98.20 during the Asian hours on Wednesday.

However, the Greenback may face further challenges on reduced safe-haven demand as market optimism grows on hopes for a diplomatic solution to the Middle East conflict. The United States (US) and Iran are reportedly preparing for a second round of peace talks before the current two-week ceasefire expires, even as rising tensions in the Strait of Hormuz continue to exacerbate global energy risks.

US President Donald Trump signaled negotiations could resume this week, while also opposing a 20-year suspension of Iran’s nuclear enrichment program. Meanwhile, Vice President JD Vance highlighted “significant progress” in the initial round of Iran talks held in Pakistan, with follow-up discussions potentially set to take place within days.

Additionally, the US Dollar could struggle as recent US Producer Price Index (PPI) data reinforced easing inflation pressures, reducing the need for the Federal Reserve (Fed) to raise rates. PPI rose 0.5% month-over-month (MoM), well below the 1.2% consensus, while core PPI printed at 0.1% MoM versus expectations of 0.6%. On an annual basis, US PPI increased 4% in March, missing the 4.6% forecast and rising from February’s 3.4%, while Core PPI held steady at 3.8% YoY, unchanged from the prior month.

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