OIL DIPS ON PROSPECTS OF US-IRAN PEACE DEALOil continues to ease, yet again on prospects of a peace deal between the U.S. and Iran. RAND GETS VOTE OF APPROVAL FROM TRADERSFinally, the rand has been given a mark of approval by options traders. The cost of hedging against rand over the next 12 months has fallen to its lowest level this year. The feeling is that the rand could strengthen to R16 to the dollar over the next 12 months – from its recent level around R16.50. The rand this morning is R16.35 to the dollar, R18.86 to the euro and R22 exactly to sterling.