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Dollar eases after JOLTS miss as oil slides on Hormuz reopening reports

EUR/USD rose and held above 1.1500 after US Treasury yields retreated following weaker hiring data, while WTI fell about 5.3% to around $75.80.

Reported · Written up by our desk · Major Pairs

Oil prices extended their slide on Tuesday, with Forex news outlet FXStreet citing reports that an announcement on the reopening of the Strait of Hormuz could come within hours. Communications were described as underway at full tilt by sources cited as Al Arabiya and Al Hadath, though no official confirmation had followed.

The US Dollar Index eased about 0.1% to around 99.90 after softer-than-expected US labor demand. JOLTS job openings fell to 7.359 million in June from 7.537 million, below the 7.4 million forecast, suggesting further loosening in hiring appetite, according to FXStreet.

FXStreet also tied currency moves to rate expectations, noting that EUR/USD advanced about 0.2% to roughly 1.1530 as US Treasury yields retreated after the JOLTS miss, with the pair holding above 1.1500. USD/JPY rose about 0.4% to near 157.80, as the yen gave back part of recent intervention-driven gains amid a retreat in geopolitical risk and reduced safe-haven demand.

Elsewhere, GBP/USD gained about 0.1% to around 1.3450 while consolidating in its recent range, and AUD/USD rose about 0.6% to near 0.7050 on an improved risk backdrop and expectations of cheaper energy costs in the region. FXStreet reported WTI crude was down about 5.3% to approximately $75.80 per barrel.

Latest closeWTI crude $80.00 ▼5.5%|EUR/USD 1.151 ▼0.1%|USD/JPY 157.38 ▼1.8%

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