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The fragile ceasefire in the Iran war is fraying as the US actively tries to break Iran's blockade while maintaining its own.

While the shaky Iran war ceasefire is holding, for now, the near-complete blockade of the Strait of Hormuz is still in force from both sides, and there is little sign that peace talks are making progress, or even taking place.

Trump's optimistic announcements on Friday regarding a possible agreement with Iran and the reopening of the Strait of Hormuz were greeted with a severe fall in oil prices and a sharp move higher in risk assets. The former proved to be short-lived.

Risk assets rallied sharply late-Tuesday into Asian trading on Wednesday amid the welcome news of a temporary US-Iran ceasefire.

The ongoing war in Iran, and the subsequent heightened geopolitical risk premium and acute volatility in commodity markets, make for a challenging backdrop for FX forecasting.

A feeling of deja vu is wafting over markets as the Iran war continues without a clear resolution in sight.

The ongoing war in Iran, and the subsequent heightened geopolitical risk premium and acute volatility in commodity markets, make for a challenging backdrop for FX forecasting.

The war in Iran is now entering its second month without any clear prospects for either a ceasefire or the reopening of the Strait of Hormuz.

The war in Iran rages on without a clear end in sight, with market participants now bracing for the possibility that the conflict drags on for a matter of months, rather than just weeks.

The war in Iran rages on without a clear end in sight, and as US and Israeli strikes continue, and Iran digs its heels in by continuing to block the Strait of Hormuz, markets are bracing for a conflict that could drag on for a number of months, rather than merely weeks.

Any doubts about whether the dollar still retained its safe haven status in times of geopolitical turmoil have been dispelled.

The Iran war is now in its second week, and markets are bracing for the possibility that it will last a while.
