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- US Dollar Index posts modest gains around 98.10 in Tuesday’s Asian session.
- US Vice President JD Vance will travel to Pakistan for talks with Iran.
- The US March Retail Sales report is due later on Tuesday.
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 98.10 during the Asian trading hours on Tuesday. The DXY trades with mild gains as traders await the developments surrounding the US-Iran talks.
US President Donald Trump stated that US Vice President JD Vance is leaving later on Monday to resume negotiations, “either Tuesday night or Wednesday morning,” Bloomberg reported, citing people familiar with the plans. Vance is expected to be joined by Jared Kushner and special envoy Steve Witkoff.
The next round of talks is expected to take place in Pakistan. Iran is also sending a team, although it is unclear who would lead the delegation. Earlier Tuesday, Trump said that he’s not likely to extend the two-week ceasefire with Iran, increasing the urgency for negotiators to reach a deal to end the war.
The US March Retail Sales report will be in the spotlight later on Tuesday. Retail Sales are projected to show a rise of 1.4% MoM in March, compared to 0.6% in February. In case of a softer-than-expected reading, this could undermine the US Dollar (USD) in the near term.
