On April 8, CoinWorld reported that Asian currencies strengthened against the US dollar in early trading following a two-week ceasefire agreement between the US and Iran. Tina Teng, Market Strategist at Moomoo ANZ, stated in an email, "President Trump’s agreement to temporarily halt attacks on Iran undoubtedly boosted global market sentiment." This can be seen as a turning point in the six-week-long Middle East conflict. The strategist added, "However, the focus will be on whether a permanent ceasefire can be reached in two weeks and whether the Strait of Hormuz can be fully reopened, which will determine whether the market rebound can be sustained."