Risk sentiment improved yesterday afternoon after the Wall Street Journal reported that Iran was seeking to de-escalate hostilities with Israel and resume talks over its nuclear programs. USD weakened across the board, as did oil prices, on thoughts that the Israel-Iran conflict may well be contained.
G7 leaders began their summit in Canada yesterday with President Trump meeting with Canadian PM Mark Carney and comments from yesterday afternoon show willingness to work together towards a trade deal.
*Daily move - against G10 rates at 7:00 am, 17.06.25
** Indicative rates - interbank rates at 7:00 am, 17.06.25
CORRECTION - our apologies for publishing the incorrect rates in our daily market report table yesterday morning. We have implemented more stringent controls in place to ensure this doesn't happen again.
Markets have started the day lower after Trump called for an evacuation of Tehran and departed the G7 summit early. FX markets, however, remain very muted and are not showing any clear direction. Today's main data points are US retail sales which are expected to show a monthly decline, no doubt impacted by tariff uncertainty.
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