Early trading shows modest currency strength, with AUD and NZD outperforming amid a pause in Iran-related geopolitical risks.
Currency markets began the week with modest gains, led by the Australian Dollar (AUD/USD) at 0.7002, up 0.33%, and the New Zealand Dollar (NZD/USD) at 0.5804, up 0.29%. The Euro (EUR/USD) also firmed slightly to 1.1392, a 0.22% increase, while the Swiss Franc (USD/CHF) saw the largest move, declining 0.23% to 0.8162.
The Japanese Yen (USD/JPY) retreated marginally to 163.67, down 0.1%, though it remains near recent highs. The British Pound (GBP/USD) held steady at 1.3332, up 0.1%, while the Canadian Dollar (USD/CAD) showed minimal movement, dipping 0.06% to 1.4083.
The moves follow a temporary easing of tensions between Iran and the U.S., with weekend oil markets indicating a 3% decline. However, traders remain cautious as broader geopolitical risks persist.