Ammon News - The U.S. dollar was on the defensive on Monday ​but remained on track for its biggest monthly gain in nearly a year, due to tension ‌in the Gulf and ahead of jobs data that could shape the Federal Reserve's rate path.

The U.S. and Iran traded fresh barbs over the weekend before they agreed to stop tit-for-tat attacks and meet in Qatar on Tuesday, leaving investors nervous about ​a fragile ceasefire.

Oil prices rose on Monday following strikes that again slowed energy shipping in the Strait ​of Hormuz, supporting safe-haven demand for the greenback.

The euro was flat at $1.1387 after hitting ⁠a 13-month low against the dollar last week, and was on track for a 2.3% monthly decline. ​Sterling traded 0.1% lower at $1.3198 and was down 2% for the month.

The risk-sensitive Australian dollar fetched $0.6885, down 0.1% ​in early trade and heading for a 4.1% monthly decline. The New Zealand dollar was little changed at $0.5635, down 5.9% for the month.

The Japanese yen last traded at 161.75, continuing to languish near a 40-year low.

The dollar index, which measures the ​greenback against a basket of currencies including the yen and the euro, was a shade higher at 101.36.
It ​is now on track for a 2.5% gain for June, which marks the biggest monthly advance since July last year.


Reuters