Singapore: The dollar strengthened to the highest level in a broad rally against most of its peers in early Asian trade as peace talks between the US and Iran broke down, and the US Navy prepared a blockade of Iranian ports.

According to Qatar News Agency, the US dollar index, which measures the greenback's strength against a basket of six currencies, was up as much as 0.5% at 99.187, marking its highest level since April 7. The euro experienced a decrease of 0.5% to settle at $1.1667. Concurrently, the British pound fell by 0.6% to $1.3383.

The Australian dollar witnessed a decline of 0.8%, dropping to $0.7014, while the New Zealand dollar decreased by 0.7%, reaching $0.5798. These movements are reflective of the heightened tensions in international relations following the collapse of the US-Iran peace discussions, influencing the currency market dynamics significantly.