US Envoy Witkoff told the mediators the 10-point counter-proposal the US had received from Iran on Monday was "a disaster, a catastrophe," Axios reports
The US Envoy's harsh critique of Iran's counter-proposal indicates potential escalation in diplomatic tensions, which could impact market sentiment across various assets, particularly in currencies and commodities.
White House Press Secretary (Q&A): Trump spoke to Netanyahu on Tuesday; Israel is a key ally
White House Press Secretary Leavitt says Trump is dispatching team led by VP Vance for talks to Pakistan. US and Iran will hold talks in Pakistan on Saturday.
US Envoy Witkoff told the mediators the 10-point counter-proposal the US had received from Iran on Monday was "a disaster, a catastrophe," Axios reports
White House Press Secretary (Q&A): Have seen an uptick in traffic in Hormuz today, Trump expects it to be open
Fed's Daly (2027 voter) says underlying US economic fundamentals in a good place
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- Pakistani mediators relayed drafts between Witkoff and Iran Foreign Minister Araghchi, with Egyptian and Turkish ministers assisting.
- By night, US approval was secured for a revised two-week ceasefire proposal, pending Khamenei’s decision, Axios says.
A failure to reach a consensus may strengthen havens like gold and the yen while creating volatility in the oil markets due to uncertainty surrounding the ceasefire proposal's outcome.
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