Sanctions on Iran undermine major currencies

The US dollar slightly declined against the major currencies amid investors' assessment of the new sanctions imposed by the United States on Iran and efforts to ease pressure on long-term Treasury yields. The euro and British pound rose to their highest levels in several months, while the Canadian dollar remained steady following threats of new tariffs on Canadian goods. Bitcoin also increased by 1%, and US Treasury yields climbed after the Treasury Department announced that it may use part of its reserves to buy long-term bonds to help reduce borrowing costs.

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