TechFlow News, April 17: Markets grew optimistic about de-escalation of tensions following Iran’s reopening of the Strait of Hormuz, causing a key emerging-market currency index to fully recover all losses incurred since the onset of the U.S.-Iran conflict. The MSCI Emerging Markets Currency Index rose 0.6% on Friday to 1884.37, after Iran announced the Strait of Hormuz was now “fully open” to commercial shipping. This latest development triggered an over 10% drop in oil prices, with Brent crude trading at approximately $86 per barrel, rekindling market optimism that the conflict may be ending. Dan Pan, economist at Standard Chartered Bank in New York, stated: “While questions remain about whether shipping has fully normalized, markets appear to believe the worst is behind us. The decline in oil prices is also supporting rebounds in some energy-importing countries.” (Jinshi)
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