Breaking: Risk flows dominate markets as Iran completely opens Strait of Hormuz
Abbas Araghchi, the foreign minister of Iran, announced on Friday that, following the ceasefire in Lebanon, passage of all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of the ceasefire.
He further explained that the passage of vessels through the strait will be on the coordinated route, as already announced by the Ports and Maritime Organisation of Iran.
United States (US) President Donald Trump responded to this development with a post on Truth Social.
"The Strait of Hormuz is completely open and ready for business and full passage, but the naval blockade will remain in full force and effect as it pertains to Iran, only, until such time as our transaction with Iran is 100% complete," Trump said and added that he expects this process to go very quickly since most of the points are already negotiated.
Market reaction
This headline seems to be helping improve the risk mood. At the time of press, US stock index futures were up between 0.8% and 1.2%, while the US Dollar Index (DXY) was trading at its lowest level since late February, below 97.70, losing more than 0.5% on the day.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.57% | -0.53% | -0.62% | -0.34% | -0.82% | -0.64% | -0.73% | |
| EUR | 0.57% | 0.04% | -0.04% | 0.21% | -0.25% | -0.09% | -0.18% | |
| GBP | 0.53% | -0.04% | -0.11% | 0.17% | -0.29% | -0.12% | -0.21% | |
| JPY | 0.62% | 0.04% | 0.11% | 0.28% | -0.20% | -0.04% | -0.12% | |
| CAD | 0.34% | -0.21% | -0.17% | -0.28% | -0.47% | -0.32% | -0.38% | |
| AUD | 0.82% | 0.25% | 0.29% | 0.20% | 0.47% | 0.16% | 0.08% | |
| NZD | 0.64% | 0.09% | 0.12% | 0.04% | 0.32% | -0.16% | -0.08% | |
| CHF | 0.73% | 0.18% | 0.21% | 0.12% | 0.38% | -0.08% | 0.08% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
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