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Published: 2026-05-28T14:29:32.000Z

USD flows: Axios claims MoU deal, but subject to signoff

5

Axios claims deal on 60-day MoU, though needs Trump sign-off

Axios has a 'scoop' that, according to two US officials, "U.S. and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and launch negotiations on nuclear program", including unrestricted Strait access, but President Trump has yet to give it his final approval and wants a couple of days to think about it. That's sort of what the market has settled on assuming to be the current state of play, but it's still overall positive newsflow, as far as it goes. EUR/USD back up to the day's post data 1.1650s highs, and oil future's fully back to flat and the week's lows. All that given, weekends are the risky part of the week, where Trump can go off-piste on social media comments and decision U-turns, so the market is unlikely to get carried away before sign off.

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Topics
EUR/USD-Commentary
US S&P Comp.-Commentary

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