Iran's Foreign Ministry: Process of talks through Pakistani mediation is ongoing

Sagar Dua FXStreet

According to the state media, Iran's foreign ministry spokesperson said during the European trading session on Monday that technical teams from Iran and Oman met last week in Oman to negotiate a mechanism for safe transit in the Strait of Hormuz. Iran's foreign ministry has also stated that negotiations with the United States (US) through Pakistan are still ongoing.

Additional comments

Both Iran and the US have sent their comments on the recent Iranian proposal.

Tehran's demands in negotiations with the US include releasing Iranian frozen funds and lifting sanctions.

Iran is focused on ending the war at this stage.

Market reaction

There is a sharp correction in the US Dollar (USD), following the news release. As of writing, the US Dollar Index (DXY) trades 0.1% lower to near 99.15 after correcting from an over five-week high of 99.40 posted early in the day. The WTI Oil price has also faced a slight correction from its intraday high of $103.86, but is still 1.66% higher, trading at around 102.60.

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 Swiss Franc.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.10%	-0.21%	0.06%	-0.05%	-0.02%	-0.21%	-0.22%
EUR	0.10%		-0.13%	0.15%	0.03%	0.06%	-0.12%	-0.13%
GBP	0.21%	0.13%		0.28%	0.15%	0.19%	-0.02%	-0.01%
JPY	-0.06%	-0.15%	-0.28%		-0.15%	-0.10%	-0.31%	-0.30%
CAD	0.05%	-0.03%	-0.15%	0.15%		0.04%	-0.15%	-0.16%
AUD	0.02%	-0.06%	-0.19%	0.10%	-0.04%		-0.18%	-0.20%
NZD	0.21%	0.12%	0.02%	0.31%	0.15%	0.18%		0.00%
CHF	0.22%	0.13%	0.00%	0.30%	0.16%	0.20%	-0.00%

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

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

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