Dollar advances as US-Iran talks suffer setback - Reuters

<a href="https://news.google.com/rss/articles/CBMioAFBVV95cUxOWlM4RlNXbkFxNVJ6WVBIMDhNVnpLeEtFaVhBWG9fVWtfQzdCSGRycDExQkhCR3JkREhHVC13ZS1yX3VKQklJbWhmUEw4aHVNN18xNVlFdEpsbkx3R19IQ1AtTXdGLW9oZkNxYUlPNGVrdTExM1kzVW8tcDM0MnFHTTVtbTB3c1BYdWxJcFY0dlBWUVFSdGk0YUtqN2NZTXNZ?oc=5" target="_blank">Dollar advances as US-Iran talks suffer setback</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

The dollar rose to its highest level in 10 days as reports of intensifying hostilities in the Middle East dampened optimism for the potential end to the conflict.

The dollar rose against major peers in early trading after the US and Iran failed to strike a peace deal over the weekend, weighing on sentiment and lifting demand for some haven assets.

USD/CAD remains subdued for the second successive day, trading around 1.3660 during the Asian hours on Monday. The pair loses ground as the commodity-linked Canadian Dollar (CAD) receives support from higher oil prices, given Canada’s status as the largest crude exporter to the United States (US).

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 98.45 during the Asian trading hours on Monday. The DXY edges lower after reports that Iran offered the US a proposal for reopening the Strait of Hormuz.

Oil prices rose, the dollar inched higher, and U.S. stock futures wobbled lower after U.S.-Iran peace talks stalled over the weekend, leaving Gulf shipping blocked.