U.S. Dollar Index Falls to 101.122 on July 22 Amid Euro Strength and U.S.-Iran Tensions

According to Yonhap Infomax, the U.S. dollar index fell to 101.122 on July 22 afternoon (ET), down 0.057 points (-0.056%). The euro rose 0.084% to 1.14112 against the dollar, while dollar-yen fell to 163.148.

Euro strength reflected elevated inflation concerns in the eurozone following surging oil and natural gas prices. Brent crude for September delivery jumped 3.36% to $94.07 a barrel as U.S.-Iran tensions escalated. President Trump threatened to bomb facilities near Tehran if Iran attacked ships in the Strait of Hormuz, while Iran's parliament speaker responded with threats to block regional oil exports. However, the dollar's gains reversed as diplomatic expectations emerged. U.S. Secretary of State Marco Rubio said the U.S. had an "open mind" toward negotiations with Iran.