Dollar Heads for Worst Day in Nearly Two Months as Oil Drops
Storage tanks on the Houston Shipping Channel in La Porte, Texas.
Photographer: Mark Felix/BloombergThe dollar is headed for its worst day in nearly two months as hopes that shipping traffic through a key oil route will resume pushed oil prices lower.
The Bloomberg Dollar Spot Index fell on Monday from its highest level of the year, trading 0.7% lower for its biggest drop since Jan. 27. US crude dipped below $100 a barrel as US President Donald Trump is raising pressure on nations to help reopen the Strait of Hormuz, a vital maritime thoroughfare linking the Persian Gulf to international markets.