This Wednesday, the dollar remained stable after Trump's statements that the war against Iran could soon end. Meanwhile, the Australian and New Zealand dollars rallied on Wednesday.

The dollar remained broadly stable on Wednesday, with safe-haven demand gains fading, as US President Donald Trump said the war with Iran could end in the coming weeks, even as conflicting signals about the conflict kept investors on edge. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.03% to 99.70, while the euro rose 0.21% to $1.1576. The dollar has benefited from safe-haven demand since the conflict began in late February, and the United States, a net energy exporter, is also relatively better positioned than other nations to cope with oil disruptions.

The Australian and New Zealand dollars rallied on Wednesday, with investors clinging to hopes of progress towards ending the Gulf War, which triggered a rise in stock markets and boosted appetite for riskier assets.

The Australian dollar strengthened 0.2% to $0.6915, after bouncing from its 10-week low of $0.6834 reached overnight. A break above $0.6945 was needed to improve a bearish technical outlook.

The New Zealand dollar stabilized at $0.5746, after also advancing from its 10-week low of $0.5698 reached overnight.

The yen rallied after hitting its year-low of 160.46 per dollar, moving back above the important psychological threshold of 160 which had fueled fears of intervention by Japanese authorities. The Japanese yen appreciated 0.11% against the dollar, reaching 158.55 yen per dollar. It remained stable after the release of the Bank of Japan's quarterly Tankan survey, which revealed an improvement in business sentiment among large Japanese manufacturing firms in the three months leading up to March. This sign indicates that the growing economic uncertainty related to the Middle East conflict has not yet affected business morale.