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FX Daily: Volatile truce
April 9, 2026
ING Think
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The dollar has found some firmer ground after Iran said the ceasefire had been violated yesterday. Fresh positive headlines on peace negotiations and Hormuz reopening should still asymmetrically favour high-beta/EM currencies, but euro gains may prove more sustainable as ECB pricing could prove sticky around 50bp of hikes
ING Think
Coverage and analysis from Netherlands. All insights are generated by our AI narrative analysis engine.
Netherlands
Bias: center