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Senior Iranian source tells Reuters that mediators have proposed a 10-day cessation of strikes to find ways to revive the Iran-US interim deal

This announcement regarding a potential 10-day cessation of strikes reflects ongoing diplomatic efforts to revive the Iran-US interim deal, which could have significant implications for oil markets and geopolitical stability.

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A high-ranking source told Al-Hadath that a proposal for a ceasefire and the reopening of the Strait of Hormuz for 10 days to two weeks is currently being discussed

The expectation of Ed Miliband as foreign secretary is rising after he bids farewell to his department, reports Politico

Senior Iranian source tells Reuters that mediators have proposed a 10-day cessation of strikes to find ways to revive the Iran-US interim deal

Iranian Army spokesman says the war continues until full deterrence is achieved, Tasnim reports

China Cabinet Meeting says it is is to improve the social security system; it also reviewed and approved the 15th five-year plan for IP protection and utilisation

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Context

If successful, it might ease tensions and influence USD and commodity prices, particularly in energy. Traders should watch for market reactions in currencies like the USD and JPY, as well as in crude oil and metals, reflecting shifts in sentiment towards risk and supply concerns.

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