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Trump says US will reinstate “Iranian Blockade” at Strait of Hormuz
FXStreet said the US Dollar Index was near 101.1 after Trump’s post, with renewed US-Iran tensions lifting oil prices and supporting safe-haven demand.
According to FXStreet, US President Donald Trump said the Strait of Hormuz is open and will remain accessible to international shipping, while Washington would reinstate what he called an “Iranian Blockade” to prevent Iranian vessels and Iran-linked customers from entering or leaving via the strategic waterway.
Trump also said the United States would be known as the “Guardian of the Hormuz Strait” under a new US-led security arrangement, with the US seeking reimbursement at a rate of 20% on all cargo shipped through the strait. FXStreet noted Trump did not provide further details on how the charge would be calculated or implemented.
FXStreet reported that the US Dollar Index, or DXY, was trading near 101.10, up about 0.1% after giving up earlier gains, as safe-haven demand supported the greenback amid renewed US-Iran tensions.
FXStreet linked the dollar’s initial strength to higher oil prices, and it also discussed major currency moves including GBP/USD trading around 1.3370 and EUR/USD facing selling interest near 1.14.
Latest closeEUR/USD 1.142 ▼0.0%|GBP/USD 1.340 ▲0.0%|Dollar index 100.97 ▲0.0%