Market Analysis

[MARKET ANALYSIS] DXY mildly gains as risk appetite is dampened after the US conducted 'self defence' strikes on Iran

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DXY: +0.1%USD eked slight gains after softening yesterday in holiday-thinned conditions and as oil prices slumped amid hopes that the US and Iran are nearing a peace agreement, while the mild overnight reversal in price action follows the announcement that the US conducted 'self-defence' strikes against Iranian missile launch sites and boats attempting to lay mines.EUR/USD: -0.1%Lacks demand with price action rangebound amid light news flow from the bloc and some concerns that the US self-defence strikes could impede the ongoing US-Iran negotiations.GBP/USD: -0.1%Pared some of its recent advances and returned from a brief foray above the 1.3500 level, with recent price action driven by the risk sentiment and temperamental geopolitical climate, while participants in the world's largest FX trading hub are set to return from the Bank Holiday weekend.USD/JPY: FlatTrades sideways amid a quiet calendar and with upside contained by resistance at the 159.00 focal point.Antipodeans: AUD/USD -0.1% / NZD/USD -0.3%Marginally softened with risk appetite dampened by the latest geopolitical developments.

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