Asia FX holds gains amid Iran deal hopes; Aussie trade data underwhelms

Asian currencies maintained their gains as optimism surrounding a potential Iran nuclear deal bolstered risk appetite among investors. This sentiment shift is primarily driven by expectations of increased oil supply, which could influence global energy prices and trade dynamics. The Australian dollar, however, faced pressure following disappointing trade data, indicating weaker export performance that could affect economic growth prospects. Traders will be particularly attentive to upcoming negotiations regarding the Iran deal, as any developments could significantly impact oil markets and related currencies.

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