Most other currencies were unchanged after ​the ceasefire extension

The U.S. dollar was steady and briefly hit a one-week high in Asian ​trade on Wednesday, as scepticism about U.S. President Donald Trump’s announcement of an indefinite extension of a ceasefire with Iran lifted ‌demand for the safe-haven currency.

It was also boosted by U.S. central bank nominee Kevin Warsh’s comments at a Senate confirmation hearing which were interpreted as slightly hawkish, and by strong retail sales data that provided an upbeat view on the strength of the country’s economy.

The U.S. dollar index dropped to 98.367 after earlier in the day hitting its highest level since April 13.

The U.S. president extended his deadline for the ​ceasefire indefinitely while also keeping up the blockade on Iranian ports, analysts from DBS wrote in a research report. This ⁠leaves the timeline for the normalisation of energy export flows from the Strait of Hormuz still in limbo.

Most other currencies were unchanged after ​the ceasefire extension. The euro was steady at $1.1742 and the British pound was flat at $1.3511. The Australian dollar nudged up 0.1% to $0.7157 and the New ​Zealand dollar was 0.2% higher at $0.5907.

Against the yen, the U.S. dollar was flat at 159.35 yen after data earlier showed Japan’s exports rose for a seventh straight month, defying any major impact from disruptions caused by the Gulf war.

U.S. retail sales rose 1.7% in March, more than the expected 1.4% rise, as the ‌war with ⁠Iran boosted gasoline prices and led to a record surge in receipts at service stations, while tax refunds underpinned spending elsewhere.