TThe forex market this week was heavily driven by developments surrounding US-Iran peace negotiations. Wednesday's session pivoted sharply as two conflicting forces emerged President Trump's assertion that US-Iran peace negotiations were approaching resolution sent crude oil tumbling below $100 per barrel and lifted equities and risk-sensitive currencies. By Thursday, market sentiment pivoted once more, with equities extending their weekly advance and oil reversing a significant intraday gain on renewed hopes that a Hormuz reopening could be approaching. The back-and-forth headlines kept traders on edge throughout the week, making directional positioning extremely difficult across major pairs.he forex market this week was heavily driven by developments surrounding US-Iran peace negotiations. Wednesday's session pivoted sharply as two conflicting forces emerged. President Trump's assertion that US-Iran peace negotiations were approaching resolution sent crude oil tumbling below $100 per barrel and lifted equities and risk-sensitive currencies. By Thursday, market sentiment pivoted once more, with equities extending their weekly advance and oil reversing a significant intraday gain on renewed hopes that a Hormuz reopening could be approaching. The back-and-forth headlines kept traders on edge throughout the week, making directional positioning extremely difficult across major pairs.