Lates News

Due to Iran reopening the Strait of Hormuz, optimism has been felt in the de-escalation of conflicts, and a key indicator of emerging market currencies has fully recovered the lost ground since the start of the US-Iran war. The MSCI Emerging Market Currency Index rose by 0.6% to 1884.37 points on Friday after Iran announced that the Strait of Hormuz is now "completely open" for commercial shipping. This latest development led to a drop in oil prices by over 10%, with Brent crude trading at around $86 per barrel, reigniting optimism in the market that the conflict may be coming to an end. Dan Pan, economist at Standard Chartered Bank in New York, said, "While there may still be some questions about whether shipping has fully resumed normally, the market seems to believe that the worst period is over. The drop in oil prices has also supported a rebound in some energy-importing countries."