Trump Holds Off Iran Strikes, Signals Hormuz Deal May Be Near
President Trump delayed military action against Iran after receiving pledges that a deal on the Strait of Hormuz is close, a move likely to calm markets.
Over the weekend, the U.S. held off on strikes against Iran amid signals that an agreement regarding the Strait of Hormuz is within reach. The narrow waterway, through which a significant share of global oil passes, has been a central flashpoint in the Middle East conflict.
Markets are expected to react to the diplomatic opening, with the potential for reduced supply-disruption fears if a deal materializes. However, details of the proposed arrangement remain unclear.
The development marks a pause in escalatory moves, though tensions in the region persist.
Source: FXStreet Forex News