Iran, US reach deal to extend ceasefire
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U.S. and Iran negotiators have reportedly agreed to a 60-day ceasefire to advance nuclear talks. 'Outnumbered' discusses the deal's implications for the Strait of Hormuz, oil prices and Iran's internal economic pressures.
Chances of a nuclear deal between the U.S. and Iran this year haven't moved much on prediction markets after Axios reported that the two agreed to a ceasefire.
By Ashitha Shivaprasad May 29 (Reuters) - Gold rose more than 1% on Friday after reports that the U.S. and Iran may have agreed to extend their ceasefire, though it was still headed for a monthly decline as inflation concerns and expectations of higher interest rates weighed on prices.
U.S. and Iranian negotiators reached a tentative agreement to extend the ceasefire by 60 days and start negotiations on Iran's nuclear program. President Donald Trump still needs to sign off on the pact.
The dollar fell against other major currencies on Friday and was on track for its second consecutive week of losses after the U.S. and Iran reportedly reached an agreement to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz.
US and Iran are weighing a ceasefire extension and Strait of Hormuz deal as gas prices post their biggest daily drop since 2008.
U.S. Central Command said Kuwait intercepted missiles fired from Iran late Wednesday, and military officials called the attack on one of America's top allies in the Persian Gulf an “egregious ceasefire violation.
It is questionable whether an agreement between the United States and Iran can be described as a “ceasefire” amid ongoing clashes.