PiCK
Bessent Says US-Iran Deal to Reopen Strait of Hormuz Could Come as Early as Wednesday
Summary
- Scott Bessent said the US could reach an agreement with Iran as early as Wednesday to reopen the Strait of Hormuz.
- He said a deal related to the Strait of Hormuz could be reached on Tuesday or Wednesday.
- Bessent backed efforts to stabilize the yen, cited excessive volatility in the South Korean won market, and said it was reasonable for the Fed to consider expanding its repurchase agreement facility.
Forecast Trend Report by Period
US Treasury Secretary Scott Bessent said a deal with Iran to reopen the Strait of Hormuz could be reached as early as Wednesday.
BlockBeats, a US media outlet focused on digital assets, reported on Aug. 4 that Bessent told CNBC an agreement with Iran could reopen the waterway as soon as Wednesday.
A Hormuz-related agreement could be reached on Tuesday or Wednesday, he added.
Bessent also said he believes the Bank of Japan will take the policy steps needed and backed Japan's efforts to stabilize the yen. He also described volatility in the South Korean won market as excessive.
He added that it would be reasonable for the Federal Reserve to consider expanding its repurchase agreement facility for foreign central banks and international monetary authorities.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.