President Donald Trump said on Tuesday evening he will suspend planned military strikes against Iran by two weeks, with Tehran signaling it was open to a conditional ceasefire.
Concerns among central banks about geopolitical tensions have surged dramatically this year and are now viewed as the top global risk, according to a new survey of central banks managing more than $9.5 trillion in reserves.
Oil prices plunged more than 15% in Asian trading on Wednesday after U.S. President Donald Trump agreed to a two-week ceasefire with Iran, just hours before his self-imposed deadline to reopen the Strait of Hormuz.
Most Asian currencies advanced on Wednesday, supported by a weaker dollar and improving risk sentiment after U.S. President Donald Trump agreed to a temporary ceasefire with Iran, while New Zealand's central bank held interest rates unchanged as expected.
The dollar sank to its lowest level in a month while the euro, yen, Aussie and kiwi rallied hard in Asian trading on Wednesday after U.S. President Donald Trump said he had agreed to a two-week ceasefire with Iran.
Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume.