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Dollar Slips as Iran Deal Progress Weighs on Oil Prices

This morning has seen the US Dollar lose some momentum as Donald Trump stated last night that the operation Project Freedom will be paused as a deal with Iran edges closer. Trump went further to claim great progress has been made for a complete and final agreement with Iran.

Although Iran is yet to officially comment on this deal being close, Iran’s Foreign Minister had earlier this week acknowledged some progress in talks between Iran & The U.S. As expected, we have seen Oil prices dip off as markets digest the possibility of a deal being reached, with Brent Oil prices dropping back below $110 per barrel.

Elsewhere, The Japanese Yen has climbed to a near three-month high against the Dollar as it looks increasingly likely that The Bank of Japan will intervene in order to bring some stability to the currency and any potential impact economically. The last intervention by the Bank of Japan was in last, with potentially a second intervention less than a week later due to climbing import costs and stubborn inflation.

GBP/EUR 1.1572 GBP/USD 1.3604 GBP/AED 4.9976

GBP/AUD 1.8764 GBP/CHF 1.0603 GBP/CAD 1.8483
GBP/NZD 2.2837 EUR/USD 1.1739 GBP/ZAR 22.3574

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