HONG KONG, April 2 - Major currencies held steady as investors awaited President Donald Trump’s televised address on a potential Iran ceasefire.
Trump is expected to announce that U.S. military objectives in Iran have been met and that the conflict will wind down within weeks. Such a statement may ease market tensions and affect global currency flows.
The U.S. dollar strengthened amid safe-haven demand since late February. A possible ceasefire has already begun reversing some trades, pushing the greenback down slightly over two days.
The euro traded at $1.1592 and the British pound at $1.3308. The Australian and New Zealand dollars were also flat at $0.69265 and $0.57495, respectively.
The dollar index, measuring the U.S. currency against a basket of peers, was nearly unchanged at 99.56.
Analysts believe Trump’s speech will shape market sentiment. "It all hinges now on what he says," said Kyle Rodda from capital.com.
However, Carol Kong from Commonwealth Bank of Australia warned that even a withdrawal wouldn’t halt Iran's control of the Strait of Hormuz, a key oil transit route.
Attention now turns to Friday’s U.S. non-farm payrolls report, expected to show a 60,000 rise in jobs. A poor labor market could trigger Fed rate cut expectations.