Mediators Propose 10-Day Truce to Revive Iran Deal

A senior Iranian source said mediators have proposed a 10-day cessation of strikes to find ways to revive the US-Iran nuclear deal. Risk assets rallied on the headline. Oil prices extended their earlier losses as sentiment shifted.

Earlier in the session, the Iranian Foreign Ministry spokesperson said Tehran would consider diplomacy based on its national interests. He confirmed that mediators have remained active in recent days despite the ongoing conflict. His remarks suggested diplomatic channels are still open after the collapse of the ceasefire.

Those comments helped reverse the risk-off tone that followed a Washington Post report. The Post said the US was preparing for a wider war and that the Pentagon was increasing the number of military aircraft in the Middle East.

The proposal is on the table. No confirmation from either side has been reported.

For broader context on how geopolitical risk flows through currency markets, see our forex market analysis.