Growing optimism over an interim agreement to reopen the Strait of Hormuz has led to Dollar weakness overnight, easing concerns to inflation worries globally.
In light of this, we have also seen Gold extend its gains for a third-straight session as Qatar stated a proposal had been drafted, with reports suggesting that Washington, Tehran and Oman were close to finalising the agreement. Which could be announced as early as today.
The possibility of lower Oil prices as we move into the winter months, albeit dependant on any deal being agreed has seen markets scale back their expectations surrounding Federal Reserve interest rates.
CLICK HERE for more currency market news.
