US VP Vance is engaging with Pakistan mediators over Iran deal and passed a message to Iran via Pakistan on Tuesday, while US and Iran are discussing ceasefire for Hormuz reopening and Vance warned of increasing pressure without a deal, according to ABC

The engagement of US VP Vance with Pakistan over the Iran deal signals a potential easing of tensions, but his warning of increasing pressure suggests urgency in negotiations. This dynamic could influence commodities, particularly energy and metals, as a deal might stabilize markets while ongoing uncertainty could drive volatility in oil prices and safe-haven assets like gold. Traders should watch how these developments may affect USD and related currencies in the FX markets as sentiment shifts.