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Trump rejects an Iranian ceasefire offer tied to the Strait of Hormuz

Reported · Written up by our desk · Major Pairs

Brent crude was trading slightly below USD 99 per barrel in the morning after President Trump publicly rejected an Iranian ceasefire offer reported over the weekend, according to Action Forex.

The same morning note also said minutes from the Bank of Japan’s July meeting were released and showed a hawkish tone, with policymakers discussing inflation risks and the need for faster interest rate increases.

In Japan, the August services producer price index was cited at 3.7% year over year, up from 3.6% in July, described as the fastest pace of corporate services inflation in over two years.

In China, Action Forex pointed to August industrial profits growth slowing to 4.2% year over year from 11.2% in July, with technology growth said to be overshadowed by a weak domestic market.

Latest closeWTI crude $92.44 ▼2.3%|Brent $97.47 ▼8.6%

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