SINGAPORE (REUTERS)

Stock futures rose and the dollar wavered on Wednesday after President Donald Trump said he ​would indefinitely extend the Iran ceasefire, keeping sentiment buoyed, although with the Strait of Hormuz still closed, oil prices stayed near $100.

Markets took the latest ⁠development in stride as investors weighed the extension with no signs of resumption in US-Iran talks yet.

S&P futures rose 0.4% while Nasdaq futures gained 0.5%. European futures eased 0.3% pointing to a subdued ​open.

MSCI's broadest index ‌of Asia-Pacific shares outside Japan fell 0.7% after hitting a seven-week top ⁠on Tuesday. Japan's ​Nikkei and South Korea's KOSPI hit record highs on renewed AI wagers.

After ‌a sharp selloff in March due to the war in the Middle East, markets across the globe ‌have swiftly rebounded this month and are back at pre-war levels as the prospect of a peace deal and the ceasefire spurred a risk-on rally.

That has also left the US dollar, which benefited from safe haven demand in March, on the back foot, giving up ​most of its war-induced gains.

Trump has said he would continue the US Navy's blockade of Iran's ports and shores. Tehran has effectively closed the Strait of Hormuz through which one-fifth of the world's energy supply usually flows, causing a global energy ‌shock.

Oil prices swung between gains and losses, with Brent ​crude futures flat at $98.47 per barrel. US West Texas Intermediate crude futures slipped 0.25% to $89.45 a barrel.

While oil prices have come down from their March peaks they are still well above pre-war levels, worrying investors that elevated energy prices could quicken inflation and keep global rates higher for longer.

Investors parsed comments from Federal Reserve chief nominee Kevin ‌Warsh as he tried to assure US senators considering his confirmation to lead the central bank that he would act independently of the White House.

Warsh said he had made no promises to Trump ⁠about cutting rates, and called for a new approach to controlling inflation and a communications overhaul that could discourage his colleagues from ​saying too much about the direction of monetary policy.

The currency market was fairly muted in Asian hours. The euro last fetched $1.1742. The yen was at 159.31 per dollar and sterling firmed to $1.3509.

The dollar index, which measures the US currency against six peers, was last at ​98.35, hovering near its highest in a week. Still, the index is down 1.5% in April after rising about ​2.3% in March.