The U.S. dollar held near a six-week high on May 22, 2026, as ongoing uncertainty over a potential nuclear deal between the United States and Iran supported safe-haven demand for the greenback.
According to Reuters, the dollar index, which measures the currency against a basket of six major peers, was at 104.52, close to the 104.70 level touched earlier in the week, its highest since April 10, 2026. The euro dipped 0.1% to $1.0825, while the yen weakened to 156.30 per dollar.
Negotiations between Washington and Tehran have stalled over key issues, including uranium enrichment levels and sanctions relief. A senior U.S. official stated on May 21 that 'significant gaps remain' between the two sides, dampening hopes for a swift agreement.
Market analysts noted that the lack of a clear resolution has increased risk aversion, pushing investors toward the dollar. 'The uncertainty is keeping the dollar bid,' said a currency strategist at ING. 'Until there is more clarity on the Iran front, the dollar is likely to remain supported.'
