Dollar Wraps Worst Month Since June as Haven Trade Unwinds

The US dollar wrapped up its worst month since June as the prospect of peace talks to end the Iran war led traders to unravel bets on the haven currency.

The Bloomberg Dollar Spot Index fell 1.9% in April, with most of the drop spurred by a US-Iran ceasefire struck earlier in the month. The world’s primary reserve currency unwound some of its slump more recently after a renewed spike in oil prices and speculation that the Federal Reserve will hike interest rates next year.