New Iranian Proposal Helps Bolster Risk Appetites
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Marc Chandler17.15K FollowersFollow5ShareSavePlay(11min)CommentsSummaryThe US dollar is trading softer.Euro snapped a three-day slide ahead of the weekend. Initial support in North America may be around $1.3530.Sterling eased to an eight-session low near $1.3450 on April 23 before recovering ahead of the weekend to slightly above $1.3535 and almost matched last week’s high. It reached almost $1.3560 today.Equities in Asia and Europe are mostly firmer. There were a few notable exceptions in Asia-Pacific, including Hong Kong, Australia, and Singapore, but Taiex rose nearly 1.9% and Kospi surged by 2.15%.Europe’s Stoxx 600 is up about 0.25% in late morning turnover. If sustained, it would be the largest gain in a little more than a week. US index futures are narrowly mixed. Dilok Klaisataporn/iStock via Getty Images The breakdown of talks between the US and Iran initially warned of a risk-off session, but a new Iranian proposal appears to have revived the hopes of a resolution. The US dollar (DXYThis article was written byMarc Chandler17.15K FollowersFollowMarc Chandler has been covering the global capital markets in one fashion or another for 40 years, working at economic consulting firms and global investment banks. A prolific writer and speaker he appears regularly on CNBC and has spoken for the Foreign Policy Association. In addition to being quoted in the financial press daily, Chandler has been published in the Financial Times, Foreign Affairs, and the Washington Post. In 2009 Chandler was named a Business Visionary by Forbes. Marc's commentary can be found at his blog (www.marctomarket.com) and twitter www.twitter.com/marcmakingsense