Breaking: US President Trump says naval blockade will be lifted

FXStreet Team FXStreet

In a post published on Truth Social on Friday, United States (US) President Donald Trump said that the naval blockade will be lifted and ships caught in the Strait of Hormuz may start the process of "heading home."

"Iran must agree that they will never have a Nuclear Weapon or Bomb. The Hormuz Strait must be immediately open, no tolls, for unrestricted shipping traffic, in both directions," President Trump said and added the enriched material will be "unearthed by the United States, in close coordination and conjunction with the Islamic Republic of Iran, plus the International Atomic Energy Agency."

Trump further stated that no money will be exchanged until further notice and concluded his post by noting that he will be having a meeting in the Situation Room to make a final determination.

Market reaction

With the immediate reaction, the US Dollar (USD) came under renewed selling pressure. At the time of press the USD Index was down 0.15% on the day at 98.83.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.17%	-0.27%	-0.03%	-0.05%	-0.43%	-0.92%	-0.34%
EUR	0.17%		-0.10%	0.11%	0.13%	-0.26%	-0.72%	-0.16%
GBP	0.27%	0.10%		0.19%	0.22%	-0.15%	-0.62%	-0.09%
JPY	0.03%	-0.11%	-0.19%		0.04%	-0.36%	-0.85%	-0.30%
CAD	0.05%	-0.13%	-0.22%	-0.04%		-0.40%	-0.86%	-0.32%
AUD	0.43%	0.26%	0.15%	0.36%	0.40%		-0.47%	0.08%
NZD	0.92%	0.72%	0.62%	0.85%	0.86%	0.47%		0.55%
CHF	0.34%	0.16%	0.09%	0.30%	0.32%	-0.08%	-0.55%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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