Currency Market Update: April 2nd 2026 - Geopolitical Tensions Drive Oil Higher Ahead of Crucial US Payroll Release

Currency Market UpdateOil prices have again climbed higher this morning after Donald Trump effectively dashed any hopes of ending the conflict in The Middle East, which has now reached its fifth week.

Trump pressed down on threats to hit Iran extremely hard in the next two to three weeks, specifically noting the plan to target Iran's electricity infrastructure if a deal with Tehran cannot be agreed.

Iran have consistently denied being involved in any direct talks, leading to a U-turn from Trump's initial comments of aiming to exit the conflict within the next few weeks.

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