The United States and Iran have reportedly reached a tentative deal on extending a ceasefire, according to multiple sources citing reporting from Axios. The agreement would need final approval from President Trump before taking effect.

The framework reportedly includes a 60-day ceasefire extension and would launch talks on Iran's nuclear program, according to sources familiar with the matter. The deal has not yet been approved by the leaders of either the United States or Iran.

News of the potential agreement had immediate effects on financial markets. The U.S. dollar fell against major currencies following the reports, while gold prices erased earlier losses. Some financial analysts suggested markets may be underpricing signs of a potential Iran deal.

However, traders expressed skepticism about the prospects for a comprehensive U.S.-Iran nuclear agreement being reached this year, despite the reported ceasefire talks. The tentative nature of the current arrangement and the need for presidential approval have left uncertainty about the deal's ultimate implementation.

The reported agreement comes amid ongoing tensions between the two countries, with any ceasefire extension representing a potential de-escalation of hostilities. Details about the specific terms of the tentative deal beyond the ceasefire extension and nuclear talks have not been disclosed.