Carter Johnson

A sharp drop in volatility in the US dollar is pushing traders in the $9.5-trillion-a-day currency market toward carry wagers and bets on relative value in search of profits.

Companies in the US and the UK ramped up their currency hedges last quarter as the war in Iran roiled global markets, an industry survey shows.

The dollar fell against all of its major peers after a report that the US and Iran reached an agreement to extend a ceasefire, pending the approval of President Donald Trump.

Traders are betting the US dollar will rise in the weeks ahead, supported by lingering uncertainty over US-Iran talks and an AI-fueled rally in US stocks.

Rising dollar volatility is endangering a currency-trading strategy that had been a steady winner in recent months.

The dollar fell by the most in more than a month as President Donald Trump’s vow of progress on a deal to end the war with Iran eased demand for the haven.

A rates-product executive at Goldman Sachs Group Inc. said traders are positioned correctly for the Federal Reserve to raise interest rates to combat a surge in war-driven inflation.

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The dollar surged the most in three months after Federal Reserve officials signaled growing support for interest-rate hikes this year.

The dollar extended its rally for a second day, pushing it back toward the late-March peak, as traders piled into bets that the Federal Reserve will start raising interest rates as soon as late next month.