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US-Iran peace breakthrough sends oil tumbling, dollar weakening

15 Jun 2026

Global markets reacted sharply after the United States and Iran agreed on a framework peace deal to end their conflict. The peace talks led to the lifting of the US blockade and reopening the Strait of Hormuz.


The announcement triggered a steep fall in crude oil prices. Brent dropped over 4% to $83.82 as traders anticipated smoother oil flows and a reduced geopolitical risk. The US dollar also slid to a 10‑day low, as investors shifted toward riskier currencies such as the euro, sterling, Australian dollar, and kiwi.


Analysts expect the dollar to remain under pressure in the near term, while caution persists due to President Trump’s warning that military action could resume if Iran fails to finalize a nuclear accord. Meanwhile, the yen hovered near intervention‑watch levels, and the Bank of Japan prepared for a potential rate hike to a 31‑year high.





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