Traders say the Reserve Bank of India may be selling dollars to defend the rupee.

Trump said many ships transited the Strait of Hormuz overnight and that the US has complete control of the waterway, but oil flows through the strait will not be entirely smooth. He said oil prices will fall sharply when this ends. He said talks with Iran may occur at some point but Iran must not be allowed nuclear weapons because they would use them. On trade, Trump said he had a good call with Canadian Prime Minister CARNEY, that there are no tariffs on Canada and US farmers will no longer face tariffs under an agreement that awaits final documentation.

Spot gold fell below $4,510/oz, down 0.29% on the day.