Global FX: The beginning of the end?

J.P. Morgan analysts discuss FX markets in the aftermath of a US-Iran ceasefire, recorded April 10, 2026. The podcast suggests a potential turning point for global currencies, but specific currency views are not provided in the excerpt.

What the desk is arguing

J.P. Morgan Global Research analysts Arindam Sandilya and James Nelligan discuss the FX market implications of the US-Iran ceasefire, recorded on April 10, 2026. They explore whether this geopolitical shift marks the beginning of the end for current FX trends, but the excerpt does not elaborate on specific currency views.

Where it sits in our coverage

No internal coverage data is available for the relevant currencies. We do not have a consensus target or firm spread to cite.

How other firms see it

No other firm stances are available in this source or our internal data.

Key takeaways

01US-Iran ceasefire is a potential turning point for FX markets.
02J.P. Morgan analysts discuss macro implications but offer no explicit currency forecasts.
03No additional firm views or internal coverage data are available.

Market implications

The ceasefire could reduce geopolitical risk premium, potentially supporting risk-sensitive currencies and weighing on safe havens like USD and JPY. However, without specific analysis, implications remain speculative.

Risks to this view

Ceasefire may be fragile; any breakdown could reverse FX moves. Market focus may shift to other geopolitical or economic factors.

JPM

Arindam Sandilya and James Nelligan discuss FX markets in the aftermath of US - Iran ceasefire. This podcast was recorded on 10 April 2026. This communication is provided for information purposes only.

Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5258865-0 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.

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Sources & References