Dollar holds lower after Trump says that Iran wants to make a deal again
AUD/USD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Société Générale | Bullish | 0.7120 |
Scotiabank | Bullish | 0.7500 |
Commerzbank | Bullish | 0.7100 |
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The push and pull for the dollar continues this week amid a mix of geopolitical headlines from the Middle East. The US-Iran conflict seemed like it was about to start back up after both sides exchanged strikes since the weekend, before US president Trump said that the ceasefire d
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4 itemsFX Daily: War is over – maybe
The desk posits that the potential US-Iran peace deal could impact the dollar negatively amidst a backdrop of softening oil prices. Following President Trump's declaration of a ceasefire, markets exhibited typical optimistic responses, with Brent crude down 4% and the dollar retreating by 0.8% as short-dated US yields fell 10bps. Per the full note from ING, while progress appears to be on the horizon, the lack of Iranian confirmation and the historically volatile nature of such announcements pose significant uncertainty amidst a market eager for stable oil supplies and reduced inflation pressures.