The Japanese yen weakened against other major currencies in the Asian session on Monday, as European stocks traded multi-week higher amid continued optimism around the trajectory of talks to end the Iran war.
A potential peace deal between the U.S. and Iran is likely to see a permanent end to the Middle East conflict after senior U.S. officials indicated over the weekend that both countries were nearing an agreement that could reopen the Strait of Hormuz. Both sides are reportedly still negotiating key terms of the peace deal, and final approval from both sides is expected to take several days. Secretary of State Marco Rubio claimed the U.S. and Iran have made "some progress" in negotiations to end the war.
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