Summary

• The US dollar is trading softer.
• Euro snapped a three-day slide ahead of the weekend. Initial support in North America may be around $1.3530.
• Sterling eased to an eight-session low near $1.3450 on April 23 before recovering ahead of the weekend to slightly above $1.3535 and almost matched last week’s high. It reached almost $1.3560 today.
• Equities in Asia and Europe are mostly firmer. There were a few notable exceptions in Asia-Pacific, including Hong Kong, Australia, and Singapore, but Taiex rose nearly 1.9% and Kospi surged by 2.15%.
• Europe’s Stoxx 600 is up about 0.25% in late morning turnover. If sustained, it would be the largest gain in a little more than a week. US index futures are narrowly mixed.

The breakdown of talks between the US and Iran initially warned of a risk-off session, but a new Iranian proposal appears to have revived the hopes of a resolution. The US dollar (DXY

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