Institutions: US-Iran Conflict Appears to Have Turned into a Long-term Stalemate

On April 22, Lloyd Chan, an analyst at Mitsubishi UFJ, stated in a research report that the US-Iran conflict seems to have transformed into a long-term stalemate rather than a quick resolution. The seasoned currency analyst noted that the United States appears to be leveraging the blockade of Iranian ports to compel Tehran to reach a peace agreement, or else it could lead to further military escalation. Chan remarked, 'For the markets, this environment means that energy transportation through the Strait of Hormuz will continue to be disrupted.' The analyst added that the pressure points are more pronounced in currencies that are sensitive to oil prices, including the Philippine peso and the Thai baht.