[MARKET ANALYSIS] DXY remains subdued after yields declined alongside a slump in oil prices on Hormuz reopening optimism

DXY: -0.1%Remains lacklustre following the recent tumble in oil prices and unwinding of near-term hawkish bets amid optimism regarding the reopening of the Strait of Hormuz as reports suggested Iran and Oman are to make an announcement soon regarding their plan to manage the Strait of Hormuz, while the Qataris said language had been drafted for a possible US-Iran deal and it was also reported that the US is aiming to make an announcement today.EUR/USD: +0.1%Marginally benefits from the softer dollar and after rebounding from near-term support at the 1.1500 level.GBP/USD: +0.1%Remains afloat but with the upside capped in the absence of fresh pertinent catalysts and data from the UK.USD/JPY: -0.3%Trickles lower beneath the 158.00 handle amid softer US yields and an acceleration in Labour Cash Earnings growth from Japan, which rose to 3.4% from 3.2%, as expected.Antipodeans: AUD/USD +0.1% / NZD/USD -0.3%Mixed price action as AUD remains firmer amid the positive risk appetite, while NZD is mildly pressured following a rise in the Unemployment Rate.