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Iran rules out US talks until Trump’s term ends in 2029
FXStreet links the news to a firmer US dollar, noting USD was strongest versus the Japanese yen and that uncertainty around Strait of Hormuz reopening continues to support the greenback.
Iran has ruled out any negotiations with the United States under President Donald Trump, with Iranian outlets citing that Tehran will wait until his term ends on January 20, 2029 before resuming talks.
The decision is being framed as a setback for efforts tied to reopening the Strait of Hormuz and easing Middle East tensions, according to FXStreet, which adds that Majid Shakeri, an adviser to Parliament Speaker Mohammad Bagher Ghalibaf, said Tehran would continue through the end of Trump’s term.
FXStreet also points to an elevated geopolitical backdrop for energy flows, citing continued Houthi strikes on Saudi energy infrastructure and that shipping routes via Hormuz and Bab el-Mandeb remain critically choked, while Russian exports and refining stay subdued.
In market moves tied to the renewed uncertainty, FXStreet says the US dollar strengthened versus the Japanese yen, while GBP/USD pulled back from multi week highs around 1.3530 toward the 1.3500 support area, and EUR/USD slid back toward the 1.1540 zone, with traders weighing US jobs data alongside Middle East risk.
Latest closeEUR/USD 1.152 ▼0.3%|GBP/USD 1.345 ▼0.1%