Iran Talks Collapse and USD Gains Again (04.13.2026)

Markets turned sharply risk-off as the collapse of US–Iran negotiations and the announcement of a maritime blockade fueled fears of a broader energy crisis. 

The euro retreated under renewed dollar strength, while sterling also softened amid rising geopolitical uncertainty. USD/JPY remained near the 160 level, with intervention risks limiting further upside. In commodities, gold and silver declined as inflation fears and expectations of tighter monetary policy outweighed safe-haven demand. Overall, sentiment deteriorated significantly as escalating tensions drove investors toward the dollar.

Euro Falls as Diplomacy Falters

The EUR/USD pair retreated as risk appetite vanished following the collapse of US–Iran negotiations. After 21 hours of fruitless dialogue, tensions flared when CENTCOM declared a maritime blockade on Iranian ports starting Monday. Iranian officials noted that trust remains unestablished despite diplomatic attempts. This deteriorating geopolitical climate spurred a flight to safety, fueling US dollar strength and pressuring the euro.

For EUR/USD, the initial resistance is seen at 1.1720, while the closest support is positioned at 1.1640.

Gold Slips on Blockade Concerns

Gold fell roughly 2% to under $4,700 on Monday, erasing previous gains as Donald Trump’s proposed Strait of Hormuz blockade heightened fears of a global energy crisis. The failure of US–Iran talks in Pakistan further fueled inflation anxieties. With rising energy costs, investors now expect central banks to maintain tighter policy or delay rate cuts, maintaining downward pressure on the metal, which has lost over 10% since the conflict began.

First resistance is seen at $4800, with initial support near $4610.

USD/JPY Finds Resistance Near 160.00

The USD/JPY pair faced resistance during Asian trading as fears of official Japanese intervention curbed further yen weakness. Despite this, the dollar remains supported by the broader macroeconomic environment, preserving the pair's bullish bias. Technical indicators suggest additional upside, though a definitive move above the 160.00 threshold is essential to validate a stronger continuation of the current uptrend.

Initial resistance stands at 160.20, while the first support is located at 159.00.

Sterling Softens Against the Dollar

The GBP/USD rate dipped to 1.3401 on April 13, 2026, marking a 0.46% daily decline. While the pound pulled back, it remains resilient over longer timeframes, holding a 0.61% gain for the month and a 1.60% increase compared to last year.

From a technical view, support stands near 1.3460, with resistance around 1.3350.

Silver Slides Under $74

Silver dropped nearly 3% on Monday, dropping below $74 as fears of a worsening global energy crisis took hold. Prices retreated after the US announced a blockade of the Strait of Hormuz following deadlocked negotiations with Iran. While Washington cited ongoing nuclear concerns, Tehran reportedly sought control over the vital waterway. These geopolitical shifts have spiked inflation risks, fueling expectations of tighter central bank policy and leaving silver down over 20% since the conflict's onset.

From a technical view, resistance stands near $76.70 while support is located around $73.00.