Say it quietly, but the war in Iran appears to be edging slowly towards an eagerly awaited finale, much to the relief of market participants.
Investors escaped to the refuge of the safe haven US dollar throughout most of March a mid fears that the conflict could run and run and the Strait of Hormuz remain blocked for a prolonged period. Since then, news headlines have taken a distinct turn for the better. A ceasefire was not only agreed upon inApril, but extended on an indefinite basis, and is holding for now, despite appearing relatively fragile at times. Peace talks are also progressing, with reports suggesting that a framework deal could be imminent after the White House presented a 14-point peace proposal to Tehran on Wednesday.