Robert J. Williams The US dollar fell against the euro, yen, sterling, Australian dollar and New Zealand dollar on Monday after signs of a diplomatic path with Iran pulled investors back into riskier assets. The dollar index dropped 0.47% to 101.75, and the euro rose 0.64% to $1.1213 (EUR/USD), according to Reuters data published on 10 November 2026.
How Far Did the Dollar Fall Against Each Major Currency?
The move was broad. The New Zealand dollar led, and the yen lagged.
| Currency | Move vs. dollar | Level |
|---|---|---|
| Euro | +0.64% | $1.1213 |
| Sterling | +0.60% | $1.3429 |
| Australian dollar | +0.95% | $0.6922 |
| New Zealand dollar | +1.54% | $0.5630 |
| Japanese yen (USD/JPY) | Dollar -0.41% | 157.89 |
| Dollar index | -0.47% | 101.75 |
Source: Reuters, 10 November 2026. Times of individual quotes were not given in the report.
The pattern fits a risk-on day. The two currencies that tend to move hardest with global growth sentiment, the Aussie and the kiwi, gained the most. The yen, a traditional haven, gave back the least ground against the dollar.
What Did Trump Say About Iran?
President Donald Trump said it was “highly unlikely” he would order fresh attacks on Iran as long as diplomatic efforts continued, Reuters reported. Trump had scheduled a meeting with Qatar’s Sheikh Mohammed bin Abdulrahman Al-Thani to push the effort along.
No deal exists. What changed was the odds of renewed strikes, and that was enough to move prices.
Oil Falls Nearly 6%
Brent crude futures fell almost 6% to $92.57 a barrel, Reuters said. That matters for currencies as well as fuel bills. A lower oil price eases the inflation worry in energy-importing economies such as Japan and the euro area, and it takes away part of the geopolitical premium that had supported the dollar.
Brent is still above $90. The market has priced out some of the risk of escalation, not all of it.
Why Is the Dollar Struggling to Rally?
Positioning may be part of the answer. “The portion of the market actively trading is very long US dollar, making rallies difficult,” Enrique Diaz-Alvarez, chief economist at Ebury, said, according to Reuters.
When most active traders already hold the dollar, few are left to buy more. A piece of good news for risk assets then triggers selling instead. Diaz-Alvarez also pointed to concern over how much US economic performance now rests on AI investment, per the same report.
What Comes Next for the Dollar?
US consumer price index (CPI) data is due on Tuesday 10 November. Reuters said the expected monthly increase is 0.3%. A reading at or above that figure would test whether the dollar’s slide has legs. A softer one would add to it.
Traders will also watch the Trump meeting with Sheikh Mohammed for any sign that the diplomatic track holds. A reversal in tone could undo Monday’s moves as quickly as it created them.
Analyst Take
One day of selling does not make a trend. The dollar index is down 0.47% on a single session, and a crowded long position can unwind in either direction. If talks stall, the same positioning that is hurting the dollar today could rebuild it.
The more useful signal is the oil price. Brent falling almost 6% in a session says the market is treating the diplomatic track as credible, at least for now. If crude holds near $92 through the CPI release, the risk-on move has support beyond a single headline. If Brent bounces back toward its previous level, expect the dollar to follow.
Check the table against live quotes before acting on it. EUR/USD at $1.1213 and USD/JPY at 157.89 come from the Reuters report, not live quotes.
This article is for information only and is not financial advice. Trading foreign exchange carries a high level of risk and may not suit all investors. Source: Reuters, 10 November 2026.
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