The nearly month-long relative calm following the June 12 signing of the US-Iran memorandum of agreement has ended, with economic pressures beginning to resurface. The initial truce had provided a temporary respite from tensions that had roiled global markets.
Despite widespread awareness that the ceasefire was temporary, the period of stability from mid-June lulled some observers into hoping a lasting modus vivendi might emerge. That optimism now appears misplaced as the underlying factors driving the squeeze return to the forefront.
According to Philstar Biz, the renewed squeeze signals a return to the volatility that had characterized the period before the agreement, leaving businesses and investors to brace for another round of uncertainty.