The antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Friday as Asian stock markets traded higher, boosted by the surge in semiconductor and AI stocks amid reports that the $28 billion SK Hynix IPO in the U.S. was heavily oversubscribed. Speculation that the escalation of hostilities between the U.S. and Iran will be limited is also aiding market sentiment.
Traders remain optimistic that a full-blown war can be avoided in the Middle East after US President Donald Trump claimed that Iran wants to “make a deal so badly,” although that is in line with his typical rhetoric. He added that he doesn’t know if they’re worthy of making a deal.
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