Global FX - Feelin ‘22
J.P. Morgan's Global FX Strategists discuss the implications of the US-Iran conflict on FX macro, volatility markets, and systematic strategies, but no specific currency or rate views are provided in the excerpt.
What the desk is arguing
J.P. Morgan's FX strategists analyze the macro FX impact of the US-Iran conflict, focusing on volatility and systematic strategies. They do not offer explicit directional views or targets in this podcast summary.
Where it sits in our coverage
Our internal coverage does not include specific consensus or firm spread data for the currencies mentioned (none are explicitly cited). Hence, we cannot align or contrast this commentary with existing targets.
How other firms see it
No other firm stances are available as the source is from J.P. Morgan alone and no opposing views are provided.
Key takeaways
- 01The US-Iran conflict is a key driver for FX macro and volatility markets.
- 02Systematic FX strategies are being assessed in the context of geopolitical tensions.
- 03J.P. Morgan emphasizes that this communication is for informational purposes only.
Market implications
The podcast suggests heightened FX volatility related to geopolitical risk, but no specific trade implications are drawn.
Risks to this view
Geopolitical escalation could lead to sudden risk-off moves and sharp currency dislocations.
This week, our Global FX Strategists navigate the FX macro implications of the ongoing US Iran conflict, as well as detailing the insights on FX vol markets and systematic FX strategies. Speakers James Nelligan Ladislav Jankovic Antonin Delair This podcast was recorded on 27 March 2026. This communication is provided for information purposes only.
Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5245935-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P.
Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P.
Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.
Sources & References
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