Onshore Yuan Hits Three-Year Peak After Iran Ceasefire Lifts Markets

Financial outlets describe the US–Iran ceasefire as a fragile pause that has eased immediate fears of a wider Gulf war and shipping shutdown, sparking a relief rally in risk assets. They highlight the yuan’s three‑year high and gains in copper as signs that traders expect fewer disruptions to trade, while gold’s rise and still‑elevated oil prices show that markets doubt the truce will last. Commentators stress that without a longer‑term political deal, investors will stay cautious about Middle East‑linked assets.

• •The US–Iran ceasefire has reduced short‑term war risk in the Strait of Hormuz, lifting risk appetite in global markets.
• •China’s onshore yuan has strengthened to a three‑year high as traders price in steadier trade flows and lower energy shock risk.
• •Copper prices have risen on expectations that fewer shipping disruptions will support industrial demand.
• •Gold prices have climbed because investors still seek protection against the chance that fighting resumes.
• •Oil prices remain high because traders doubt that a 14‑day truce will fully remove supply risks from the Gulf.