US President Joe Biden says “we’re not there yet but we’re closer than three days ago”.

I don’t think many traders are trying to predict the outcome of this but Iran seems to have backed off in its planned attack.

Here is what Israeli geopolitical analyst Michael Horowitz said:

US has put forth a bridging proposal that aims to take into account Israeli demands on Philadelphi and Netzarim corridors, as well as issues on the identity of Palestinian prisoners to be released. My guess is the latter may have seen progress, while the issue of continued Israeli presence along the two corridors is still unresolved (and is now the main obstacle to a deal)

On we go.

This article was written by Adam Button at www.forexlive.com.