US, Iran Weigh Potential Deal; Global Stock Rally Builds | Horizons Middle East & Africa 5/7/2026

Watch on YouTube ↗  |  May 07, 2026 at 06:41  |  45:29  |  Bloomberg Markets
Speakers
Parisha Saimbi — BNP Paribas, EM Asia FXLM Strategist
Joumanna Bercetche — Anchor, Bloomberg

Summary

The video covers the latest US-Iran deal proposal and its impact on global markets, including a sharp drop in oil and a rally in Asian equities. BNP Paribas strategist Parisha Saimbi provides FX views on the dollar, yen, and AI-linked Asian currencies. Other segments discuss Turkey's ICBM test, Mozambique's yuan debt shift, and Johannesburg's funding crisis.

  • US offers Iran a one-page memorandum to end the war, with markets pricing optimism.
  • Oil falls to ~$102 and the dollar erases all war gains.
  • Asian stocks rally, led by Japan's Nikkei up ~5% on holiday catch-up.
  • Parisha Saimbi expects medium-term dollar weakness and USD/JPY toward 160.
  • Saimbi highlights Korean won, Malaysian ringgit, yuan, and Singapore dollar as supported by AI inflows.
  • Turkey unveils an ICBM capable of reaching Europe and the Middle East.
  • Mozambique considers converting over $1 billion of debt from dollars to yuan.
  • South Africa treasury threatens to cut funding to Johannesburg over a wage dispute.
Trade Ideas
Parisha Saimbi BNP Paribas, EM Asia FXLM Strategist 15:33
Dollar to decline on risk-on flows.
The dollar is expected to decline over the medium term as a resolution to the Iran conflict reduces safe-haven demand and triggers global portfolio diversification away from USD. While US growth outperformance versus Europe could argue for a stronger dollar, the flow picture from de-risking and rebalancing is seen as more negative for the greenback.
DXY MED
Parisha Saimbi BNP Paribas, EM Asia FXLM Strategist 17:04
USD/JPY to rise toward 160.
Unless a resolution in the Middle East brings oil prices significantly lower, USD/JPY is likely to head higher toward 160 in the near term. Intervention by Japanese authorities is not seen as sustainable enough to weaken the yen, and even under a resolution scenario oil remains high enough to keep the yen weak.
USD/JPY MED
Parisha Saimbi BNP Paribas, EM Asia FXLM Strategist 19:27
AI-linked Asian currencies to outperform.
Asian currencies tied to AI supply chains and capital inflows should remain better supported relative to other EM Asian peers. The Korean won benefits from AI-driven equity inflows, WGBI inclusion, and potential pension fund domestic pivots; the Malaysian ringgit from corporate dollar conversions for data center buildout; the Chinese renminbi and Singapore dollar from resilient current account surpluses linked to AI trends.
KRW MYR CNY SGD MED
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This Bloomberg Markets video, published May 07, 2026, features Parisha Saimbi discussing DXY, USD/JPY, KRW, MYR, CNY, SGD. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Parisha Saimbi  · Tickers: DXY, USD/JPY, KRW, MYR, CNY, SGD