US Dollar softer with Red Sea tensions abating rapidly

The US Dollar (USD) is softer in the initial hours after the US opening bell on Tuesday. Markets are disregarding comments from European Central Bank (EC and Federal Reserve (Fed) speakers and rather focus on the easing of geopolitical tensions in the Red Sea. The US Dollar fades a touch with no safe haven inflow occuring after Monday's events, and seeing the US Dollar Index heading lower towards 102.