In recent days, it appears that tensions between the West and the Middle East have eased somewhat. After this week's United Nations meeting, the U.S. and Iran sat down together for the first time in more than a generation in what appears to be a step toward a diplomatic dialogue between the two countries. The sanctions imposed on Iran by Europe and Asia are weighing heavily on the country, which has seen its exports plunge by 60% over the past two years. The newly elected government in Tehran is hoping to have the sanctions lifted by assessing the possibility of reaching an agreement with the U.S. concerning the country's nuclear program within the next three to six months.
There is slight downward pressure on crude prices this morning, with WTI trading at $102.74 at the time of publication. The CAD is down slightly against the USD compared to where it closed yesterday, while the yen continues to rise against the greenback.
On the economic calendar, the University of Michigan Consumer Sentiment Index will be released this morning at 9:55. Have a great weekend! Rana Karim
Range of the day: 1.0275-1.0350
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NBC Daily Forex : September 27, 2013
Published 09/29/2013, 03:21 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : September 27, 2013
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