Iran could close Strait of Hormuz if US navy blockade persists – Fars News

Eren Sengezer FXStreet

Citing an Iranian official, Fars News Agency reported on Friday that if the US naval blockade persists, Tehran will consider it a violation of the ceasefire and close the Strait of Hormuz, per Reuters.

Market reaction

Although the immediate market reaction to this headline was largely muted, the US Dollar (USD) Index recovered slightly from the seven-week low it set near 97.60 earlier in the day. At the time of press, the USD Index was down 0.33% on the day at 97.85.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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