The shift eased demand for defensive assets, weakening the US dollar and allowing the euro to hold close to recent highs. The Japanese yen also gained support, reinforced by a softer dollar and clear signals from Tokyo that authorities remain prepared to respond if currency volatility intensifies.

Gold continued to recover as easing tension improved the outlook for inflation stability, yet the situation around the Strait of Hormuz and the fragile nature of negotiations kept positioning disciplined rather than aggressive.

Check out Thursday's market analysis!