Overview
- President Donald Trump said he would halt U.S. attacks for two weeks if Iran reopens the Strait of Hormuz, and foreign media reported Tehran agreed to reopen the waterway if strikes stop.
- Oil prices tumbled, with Brent crude down nearly 15% to about $93.48 as traders priced in lower supply risk from the key shipping route.
- The U.S. dollar weakened, with the dollar index slipping below 99 as investors moved into other currencies.
- South Korea’s won jumped at the open to 1,479.9 per dollar, which local analysts tied to easing conflict worries that had recently pushed investors toward safer assets.
- Strategists warned the market bounce could fade because the pause lasts only 14 days and depends on the strait actually reopening, a crucial chokepoint that was shut during the monthlong conflict that followed late‑February U.S.–Israeli strikes on Iran.