[MARKET ANALYSIS] DXY gets some reprieve after softening on lower yields, oil declines and softer PPI

DXY: +0.1%Gets some slight reprieve after weakening yesterday amid hopes for a solution in the Iran conflict through diplomacy, as US President Trump suggested that US-Iran talks could resume in the next couple of days, and Iran was reportedly considering pausing its Hormuz shipping to avoid derailing talks. Elsewhere, US PPI was softer-than-expected in March, while there were some comments from Fed's Goolsbee who suggested rate cuts could be delayed until 2027.EUR/USD: -0.1%Slightly pulled back after briefly reclaiming the 1.1800 status alongside recent dollar weakness, while there were some comments from ECB officials, including Lagarde, who said the ECB is in a good position to respond to the Iran situation. Furthermore, ECB's Dolenc said the ECB will raise rates if inflation has a longer-lasting effect, and ECB’s Makhlouf said they are focused on delivering the inflation target, as well as noted that if a shock takes inflation off target but not persistently, the ECB should be measured in its response.GBP/USD: FlatTrades sideways after recently stalling beneath the 1.3600 level and with little impact seen from the latest bout of rhetoric from BoE officials, including Governor Bailey, who stated that financial stability is more exposed to political and private pressure.USD/JPY: +0.1%Rebounded from the prior day's trough and just about returned to 159.00 territory as the dollar regained some composure, but with a further recovery in the major pair limited following recent oil price declines and stronger-than-expected Machinery Orders data.Antipodeans: AUD/USD Flat / NZD/USD FlatPrice action is little changed following recent advances and amid a quiet calendar.