PBoC injects CNY 476.5bln via 7-day reverse repos with rate maintained at 1.40%

[MARKET UPDATE] Crude futures pare earlier gains as the latest headlines regarding US-Iran talks provide optimism including the joint statement from Qatari and Pakistani mediators, while Iran's Foreign Minister Araghchi also noted major progress was made

Iran's Foreign Minister Araghchi posts Pakistani and Qatari mediation delivered major progress to end Lebanon War, oil and petrochem exports are waived, blockade lifted, frozen assets released, and major reconstruction & development plan launched for Iran

PBoC injects CNY 476.5bln via 7-day reverse repos with rate maintained at 1.40%

PBoC sets USD/CNY mid-point at 6.8150 vs exp. 6.7733 (prev. 6.8130)

Qatar and Pakistan issue joint statement on conclusion of US-Iran talks in Switzerland, while Qatar says first session of the US-Iran high level talks has concluded and that talks were conducted in a positive, constructive atmosphere