Market News
Dollar falls to 10-day low on US-Iran war deal - REUTERS
By Karen Brettell and Sophie Kiderlin
NEW YORK/LONDON, June 15 (Reuters) – The U.S. dollar fell on Monday and hit a 10-day low against the euro and sterling after an agreement to end the U.S.-Iran war pushed oil prices and Treasury yields lower while boosting risk sentiment.
U.S. President Donald Trump said on Monday that a memorandum of understanding aimed at ending the war in the Gulf has already been signed by the United States and Iran.
Reports on the deal from both sides of the war boosted confidence that it would hold, said Marc Chandler, Chief Market Strategist at Bannockburn Global Forex, adding that “markets want to believe it.”
According to accounts from both sides, the agreement would reopen the blockaded strait and extend a ceasefire for a 60-day negotiation period, during which contentious issues such as the future of Iran’s nuclear programme are expected to be decided.
An official signing ceremony for the agreement is scheduled to take place in Geneva on Friday.
