Oil price falls to three-month low and markets rally after US-Iran peace deal – business live

Rolling coverage of the latest economic and financial newsOil prices tumble amid hopes strait of Hormuz will soon reopenThe US dollar is weakening, as investors shift into riskier currencies.The pound is its highest in over a week, at $1.3438.Whilst the deal is very good news for markets it looks like tough conversations will have occur in the 60-day window to ensure the peace is sustainable. As an example, the Senate needs to approve any extensive sanction relief for Iran.For now the can kickin...