Key facts
- The dollar traded in a tight range.
- Investors are watching for progress on a potential deal to reopen the Strait of Hormuz.
- Investors are awaiting key U.S. economic data.
- Japanese authorities are ready to respond in the currency market as needed.
The dollar is trading within a narrow range as market participants await developments in the Middle East concerning the Strait of Hormuz and key U.S. economic data releases. Concurrently, Japan's Finance Minister has indicated readiness to intervene in currency markets if volatility persists, suggesting a coordinated approach with U.S. authorities to monitor and manage foreign exchange movements.