Mitsubishi UFJ: The US-Iran conflict appears to have turned into a long-term stalemate

Mitsubishi UFJ analyst Lloyd Chan stated in a research report that the US-Iran conflict appears to have shifted into a prolonged stalemate rather than a swift resolution. The senior currency analyst noted that the United States seems to be using a blockade of Iranian ports to force Tehran into a peace agreement, or else risk further military escalation. Chan stated, “For the market, this environment means that energy transportation through the Strait of Hormuz will continue to be disrupted.” The analyst added that the pressure point is more evident in currencies with a higher sensitivity to oil, including the Philippine peso and the Thai baht.