Adedokun Waliyu 
The US dollar fell by about one percent against the euro and the pound in early European trading as investors sold the currency following relief over a temporary ceasefire between the United States and Iran.
At around 8:10 am, the dollar—typically considered a safe-haven asset during market uncertainty—was trading at 1.17 euros, down roughly 1.1 percent. Against the pound, it declined by about 0.9 percent to $1.34.
Donald Trump announced that he had agreed to suspend bombing of Iran for two weeks as part of a ceasefire arrangement, on the condition that Tehran fully reopens the Strait of Hormuz.
He stated that the suspension of attacks depends on the “complete, immediate, and safe opening” of the strait, describing the arrangement as a “double-sided ceasefire.”
Trump added that military objectives had already been achieved and that both sides were progressing toward a long-term peace agreement. He also noted that a 10-point proposal from Iran could serve as a workable basis for negotiations.
The development followed a last-minute proposal by Pakistan aimed at preventing large-scale US military action. Trump had earlier warned of severe consequences if an agreement was not reached.
He further explained that while many contentious issues had been resolved, the two-week pause would allow time to finalise and implement a comprehensive agreement between the United States and Iran.
