French bank Societe Generale: Iran conflict has little impact on the foreign exchange market

Kit Juckes of France's Societe Generale Bank said in a report that due to the largely unchanged growth expectations, the forex market's reaction to the Iran conflict has been moderate. He stated that investors are "nervous rather than panicked". The market still generally expects that this crisis will be relatively short-lived, with its impact on growth being temporary rather than long-term, even though the duration of the crisis has exceeded expectations. He added that if the market's view is correct, then the Australian dollar appears particularly attractive following recent declines. The Australian dollar fell by 0.5% to 0.6893 US dollars.