Goldman Sachs says the dollar has firmed as oil trade via the Strait of Hormuz
edges toward normalization, but markets will watch for any potential pitfalls
before a US-Iran agreement is signed. The pace of tanker-flow recovery will be
closely monitored. Goldman notes terms-of-trade pressure persisted long after
commodity-price peaks in 2022, and says near-term central bank decisions in the
Coming days are unlikely to be altered by a still-uncertain US-Iran deal.
