Details of US-Iran agreement revealed via N12 News' Barak Ravid (Cont.)

Iran, the US and their allies will cease hostilities, including in Lebanon
Iran reiterates its commitment not to develop or acquire nuclear weapons
US and Iran pledge to resolve issue of disposal of enriched uranium stockpile
US and Iran to discuss enrichment issue and Iran's nuclear needs
Iran will maintain status quo on its nuclear program as long as negotiations continue
The US will lift the naval blockade, not impose new sanctions, and will not increase forces in the region during the negotiations.
Iran will make the necessary arrangements to ensure safe passage of commercial vessels through the Strait of Hormuz, free of charge, for 60 days.
US pledges to make frozen Iranian assets available for use with implementation of MoU
If a final agreement is reached, the US will withdraw its forces within 30 days and lift all sanctions on Iran.
Any final agreement will include a plan to establish a $300 billion fund for Iran's reconstruction.
US to give Iran temporary sanctions waivers to sell oil during negotiations
Negotiations will be held between Iran and Oman with the participation of Gulf

What our latest note said

US Market Open, 21 Oct, 10:29 UTC · what it led with

Pakistan Army Chief Munir brought the "final warning" from the United States to Iranian officials, which called on Iran to submit to the US demands for concessions on the nuclear issue before taking any other steps.

The UK government has approved the Jackdaw North Sea gas field.

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FX headlines from our feed, and what the market did next.

Fed’s Waller (voter) says more rate hikes are likely needed to tame inflation, but there is flexibility over the pace and hikes do not need to be consecutive.

DXY+0.1%

Japan's GPIF didn't discuss allocation at its September meeting, Bloomberg reports.

USD/JPY+0.1%

Japanese FX Official Mimura says they are closely watching to see if markets take the clear message they are giving at face value. Not satisfied with or reassured by recent JPY action.

USD/JPY−0.5%

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Details of US-Iran agreement revealed via N12 News' Barak Ravid (Cont.)

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