Breaking: Risk flows dominate as Axios reports US-Iran close in on deal to end conflict
According to Axios, the United States and Iran are moving towards a deal to end the conflict.
The news outlet claims that the deal would involve both sides lifting restrictions around transit through the Strait of Hormuz, in addition to Iran committing to a moratorium on nuclear enrichment and the US agreeing to lift its sanctions and release billions in frozen Iranian funds.
The US reportedly expects Iran to respond on several key points in the next 48 hours.
Market reaction
Risk flows dominate the action in financial markets following this headline. The US Dollar Index loses more than 0.6% on the day near 97.90 and US stock index futures rise between 0.65% and 1.1% on the day.
Gold also benefits from this development and gains about 3% on the day near $4700.
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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