USD The Art Of The Deal

The report analyzes the market impact of a US-Iran peace deal regarding the Strait of Hormuz, which has pressured the USD and oil prices. It also discusses upcoming central bank meetings, specifically the BoJ and RBA, amidst high geopolitical uncertainty.

Key Takeaways

• 1.The US and Iran reached a deal to reopen the Strait of Hormuz, eroding the USD's safe-haven appeal and lowering oil prices.
• 2.Market participants remain cautious about the sustainability of the US-Iran deal due to lack of released details and conflicting stances from regional actors like Israel.
• 3.BoJ meeting expectations are focused on potential rate hikes, though the absence of Governor Ueda and uncertainty regarding a hawkish tone cloud the outlook for JPY.

Table of Contents

• Asia overnight
• USD: the art of the deal
• JPY: a hawkish hike needed to help the JPY
• AUD: RBA likely to say "its early days"
• Open trade recommendations
• Key events
• FX Research advanced tools
• Red Mount Analytics

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