Dollar Steady Amid Iran Ceasefire Extension and U.S. Retail Surge

The U.S. dollar maintained its strength in early Asian trading on Wednesday, after President Donald Trump's announcement of an indefinite ceasefire with Iran raised demand for the safe-haven currency. The dollar climbed to a one-week high. On the policy front, Federal Reserve nominee Kevin Warsh's Senate hearing remarks were received as slightly hawkish.

Analysts highlighted a modest risk-off sentiment fueled by renewed uncertainties surrounding U.S.-Iran peace talks. The euro remained steady, the Australian and New Zealand dollars were largely unchanged. In contrast, the yen saw a slight dip as Japan reported a continuous rise in exports, indicating resilience despite Gulf conflict disruptions.

Outside of currency news, Trump addressed companies on tariff refunds post-Supreme Court ruling, while U.S. retail sales marked a significant increase, bolstered by higher gasoline prices. Meanwhile, Kevin Warsh emphasized the Fed's independence from White House pressures, amidst Senator Thom Tillis's insistence on clearing current Fed Chair Powell from ongoing investigations.