ING: Reopening of the Strait of Hormuz is key to the dollar's decline

Odaily · 2026-04-01T14:17:14+00:00

The report from ING Group states that re-opening the Strait of Hormuz could be key to driving a significant decline in the US dollar. Trump said that US military actions will end in the short term, while Iran expressed willingness to end the conflict, but it remains uncertain whether the strait will be reopened. Analysts believe that only after the re-opening timeline is clarified might the US dollar index fall back to 99.0.

Odaily

2026-04-01 14:17:14

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Odaily Planet Daily News: Francesco Pesole of ING said in a report that reopening the Strait of Hormuz may be a necessary condition to drive the U.S. dollar into a larger decline. Trump said that U.S. military actions in Iran could end within two to three weeks, while Iran’s President Pezeshkian said that if certain conditions are met, Tehran has the “necessary willingness to end the war.” However, it is not yet clear whether the Strait of Hormuz will be reopened. Pesole said: “We believe the dollar index DXY could only fall back to the March 23 low of 99.0 if the timeline and path for restarting the strait are clearer.” (Jin10)

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