Markets breathed a collective sigh of relief overnight, following the news of a possible resolution to the Middle East crises, announced by President Trump on his social media. This was accompanied by a deferment of imminent strikes on Iranian energy infrastructure, giving some credence to the chaotic crises. Oil crashed from trading over US$100pb, to under US$90, offering the prospect of relief to many across the world. US equities surged on the news, although bond yields remain elevated. The US Dollar was softer allowing the EUR to regain 1.1600, while the GBP jumped above 1.3400.Commodity currencies also celebrated the fall in the reserve, with the AUD pushing back above 0.7000, while the NZD spiked above 0.5850. All eyes remain focused on developments from the Middle East.
