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May 7, 2026

Forex Today: US Dollar retreats on US-Iran pecase hopes

Here is what you need to know on Thursday, May 7:

US Dollar Index Price Forecast: Retreats toward two-month lows near 97.50

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second successive day, trading around 97.90 during the European hours on Thursday.