June 22, 2026
The dollar was steady on Monday as the first round of US-Iran talks fuelled investor optimism for a deal, while the yen inched towards 40-year lows, spurring intervention concerns and verbal warnings from Tokyo.
A joint statement from mediating nations Qatar and Pakistan said the US and Iran agreed to a roadmap toward a final deal within 60 days, providing hope for a resolution to a conflict that has weighed on global inflation and rates outlook.
The talks were tense as investors fretted about threats from President Donald Trump to restart the war in the Middle East and Tehran's announcement it had closed the vital Strait of Hormuz.
The parties agreed to a mechanism to end the fighting in Lebanon and opened a communications line to help ensure safe passage for commercial ships through the contested strait, according to the joint statement.
