Strait stakes

A proposed Iran deal that would give Tehrangreater control over shopping in the Strait of Hormuz is keeping oil below $80 a barrel. Gold has posted its biggest one-day gain in six months as investor reassess the outlook for inflation and interest rates. Meanwhile, Wall Street is cautious after weak chip-sector earnings and ahead of a pivotal U.S. jobs report. Today's recommended read: US-Japan action undercuts G7's historic FX role⁠ by Mike Dolan Subscribe to Mike Dolan's Morning Bid⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ newsletter,⁠⁠⁠⁠⁠⁠⁠⁠⁠ and check out his columns on⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Reuters Open Interest⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Produced by Eliza Davis Beard and Abisoye Osundairo. Sound engineering and music by Sebastian and Josh Sommer. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices