Tokyo: The dollar today tumbled to its lowest level in two weeks at the start of Asian trading, as the euro, yen, Australian dollar, and New Zealand dollar all rallied sharply following the announcement of a two-week ceasefire agreement between the United States and Iran.

According to Oman News Agency, the yen strengthened 0.6 percent to 158.68 per dollar, while the euro gained 0.7 percent to $1.167. Sterling advanced 0.7 percent to $1.3385, the Australian dollar climbed 1.3 percent to $0.7068, and its New Zealand counterpart surged 1.4 percent to $0.5810.

The dollar index, which tracks the US currency against a basket of six major peers, fell 1.0 percent to 98.97, marking its weakest reading in two weeks.

Cryptocurrencies also joined the rally, with Bitcoin rising 3.4 percent to $71,664.41 and Ether jumping 5.7 percent to $2,234.78.