The US dollar saw a slight increase in value, driven by rising oil prices and Donald Trump's assessment of the fragility of a ceasefire with Iran. Trump indicated a potential restart of the ‘Project Freedom’ operation in the Strait of Hormuz, raising concerns about the stability of the truce, while Iran has ramped up its military preparedness. Despite the deadlock in US-Iran negotiations, there are hopes for a diplomatic resolution through a meeting with Chinese President Xi Jinping.