FX markets

Daily Market View 20-04-2026

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0:34

Peace Unravels: Strait of Hormuz Closes Again as Oil Surges and Tensions Spike

1 Minute Market Rundown

Friday’s peace deal optimism is gone. Iran briefly opened the Strait of Hormuz; markets had a strong rally on the optimism but then it has all unravelled over the weekend due to the USA refusing to remove the blockade on Iranian ports. Iran fired on tankers on Saturday, and the USA seized an Iranian cargo ship on Sunday. The most direct confrontation between the United States and Iran since the beginning of the war. Zero tankers crossed on Sunday with the strait being effectively closed again.
The ceasefire expires on Wednesday the 22nd April. Iran has refused peace talks today in Pakistan and Trump has threatened to resume military action if no deal is signed.
Oil has had a strong rally since the open with Brent at $95.42 and WTI at $88.90 almost fully reversing Friday’s 11% crash. The dollar is strengthening whilst the pound and the euro are under pressure

Markets Today

*Please be aware the below rates represent the market rate at 8:00 AM, contact your Caxton dealer on check online for a live quote

Currency Pairs Open

GBP/USD 1.3504

GBP/EUR 1.1477

GBP/CAD 1.8497

GBP/AUD 1.8856

GBP/NZD 2.2969

GBP/JPY 214.356

EUR/USD 1.1713

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Major Economic Releases (All times in GMT)

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