US-Iran deal will likely be signed by the weekend in Geneva – Bloomberg
According to a Bloomberg report, senior officials have said that the United States (US) and Iran are edging closer to signing an agreement to reopen the Strait of Hormuz as the Group of Seven (G7) world leaders are set to meet next week.
The report also showed that a senior Iranian official indicated overnight that a deal is likely, said a G7 official, who asked not to be named discussing sensitive matters. Another G7 official said it will likely take the form of a memorandum of understanding (MoU), rather than a final deal.
Market reaction
There has been a sharp correction in the US Dollar (USD) due to US-Iran MoU hopes. As of writing, the US Dollar Index (DXY) trades flat around 99.65 after giving back its early gains.
Bloomberg report, senior officials have said
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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