Breaking: US President Trump says naval blockade will be lifted
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.
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