- MarketPulse - https://www.marketpulse.com -

USD/JPY back to 101.50 as Iran Deal Lifts Stocks

The yen tumbled to a six-month low against the dollar and a four-year trough versus the euro on Monday as a deal on Iran’s nuclear program eased political anxieties and boosted optimism about economic growth, sending global stocks higher.

The Japanese currency typically falls when share prices rise, with some investors selling the low-yielding yen in search of greater returns with riskier assets such as equities.

The breakthrough accord reached over the weekend in Geneva – between Iran, the United States, China, Russia, France, Britain and Germany – halts Iran’s most sensitive nuclear activities and gives it some relief from crippling sanctions, but does not allow the OPEC member to boost oil sales for six months.

CNBC [1]

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.


Latest posts by marketpulsefxstaff (see all [4])