US Vice President Vance: No deal yet, but framework for grand deal exists

Haresh Menghani FXStreet

US Vice President JD Vance, speaking in an interview on Fox News, struck a cautiously optimistic tone on negotiations with Iran and suggested that meaningful progress has been made even as talks have yet to deliver a breakthrough.

Additional Quotes:

Recent discussions over the weekend were productive, with U.S. officials gaining valuable insight into Iran’s negotiating approach.
The outcome was not a failure, noting that Iranian counterparts showed some movement toward U.S. positions, though not enough to finalise an agreement.
The framework for a comprehensive agreement is achievable if Iran is willing to take the next step.
Momentum has been established, with the “ball in Iran’s court” to advance negotiations further.
Progress on reopening Hormuz would be a critical signal of intent, while warning that the course of negotiations could shift if Tehran fails to follow through.

Market Reaction:

The comments add to hopes of diplomacy with Iran and remain supportive of a positive risk tone, which keeps the US Dollar depressed near its lowest level since early March, touched earlier this Tuesday.

US Dollar Price This week

The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.78%	-0.89%	-0.19%	-0.56%	-1.36%	-1.11%	-0.93%
EUR	0.78%		-0.12%	0.52%	0.23%	-0.53%	-0.33%	-0.14%
GBP	0.89%	0.12%		0.58%	0.35%	-0.41%	-0.21%	-0.03%
JPY	0.19%	-0.52%	-0.58%		-0.35%	-1.09%	-0.83%	-0.75%
CAD	0.56%	-0.23%	-0.35%	0.35%		-0.65%	-0.48%	-0.37%
AUD	1.36%	0.53%	0.41%	1.09%	0.65%		0.24%	0.32%
NZD	1.11%	0.33%	0.21%	0.83%	0.48%	-0.24%		0.18%
CHF	0.93%	0.14%	0.03%	0.75%	0.37%	-0.32%	-0.18%

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

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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