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FX Daily: Testing the ‘this is it’ trade

May 7, 2026
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Posted 1 hour ago by

Optimism about a US-Iran deal, including a reopening of Hormuz, has risen significantly since the start of the week. The dollar has further to fall if a deal is eventually agreed. Elsewhere, GBP faces downside risks from today’s UK local elections, and we expect a rare hold in Sweden and an out-of-consensus 25bp hike in Norway this morning

ING Think
ING Think

Coverage and analysis from Netherlands. All insights are generated by our AI narrative analysis engine.

Netherlands
Bias: center

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