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Flash: Commodity currencies fall on Iranian deal - Societe Generale

FXstreet.com (Barcelona) – Kit Juckes, Global Head of Currency Strategy at Societe Generale comments that the deal agreed to lift some sanctions on Iran has cut oil prices by USD 1.5p/b this morning, with a mixed commodity picture otherwise, though gold prices are lower.

Key Quotes

“Equity markets are higher, with the Nikkei gaining 1.5%. There hasn’t been much of a bond market reaction, the focus being on tapering, negative deposit rates and economic data.”

“The FX market has seen the yen weaken and commodity/energy-sensitive currencies fall. AUD is down vs USD and NZD.”
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