Dollar index pulls back well below 100 mark as war de-escalation improves risk sentiment

The dollar index pulled back well below 100 mark amid signs of de-escalation on US-Iran war. The US Dollar Index (DXY) is down 0.15, testing below the 100.00 handle for the first time since mid-March, snapping a five-session winning streak. Markets tilted toward risk appetite after Iranian state media reported that Tehran is prepared to end the war, provided specific conditions are met and all attacks cease. Meanwhile, data yesterday showed the Conference Board's Consumer Confidence Index edged up to 91.8 in March, beating the 87.8 consensus but doing little to shift sentiment in a session dominated by geopolitics. The dollar index hovered around 99.25 on the first trading day of April, down over half a percent after having risen 2.3% in March.