Muscat: The dollar hovered below a six-week high today after retreating on growing hopes that the United States is nearing a deal with Iran to end the war: The dollar, a traditional safe-haven asset, fell against the yen for the first time in eight sessions yesterday and edged down further to 158.905 yen in early trading, moving the Japanese currency away from the 160 level that traders and analysts view as a potential trigger for intervention by Japanese authorities.

According to Oman News Agency, the euro steadied at $1.1626 after falling to its lowest level since 7 April 2026 at $1.1583 in the previous session before recovering. The dollar index, which measures the US currency against the euro, yen, and four other major currencies, held at 99.128 after touching 99.472 - its strongest level since 7 April 2026.

The Australian dollar eased 0.1 percent to $0.7147 ahead of local employment data due later today, while sterling was little changed at $1.3430.