Market Volatility Hits Currency and Gold Amid Iran Deal Uncertainty
The global currency market is experiencing volatility due to concerns over the Iran deal and payroll jitters. The US dollar and Yen are drifting as a result, according to Forex Factory. President Trump has stated that he would rather make a deal with Iran than not have one, emphasizing his stance against Iran having nuclear capabilities.
Iran's Deputy Foreign Minister has responded by saying that no talks have been held with the US in recent days and that reopening the Hormuz shipping route is contingent on the US returning to its commitments. However, the US has reportedly said it is ready to return to its pledges through messages.
The gold market has seen a significant surge, with its strongest session since February, as three headwinds have backed off at the same time. This includes decreased inflation pressure and lower crude prices, which in turn led to Treasury yields following suit. The 10-year yield is near 4.619% and the 30-year at 5.171%.