Pi Network (PI) is consolidating near $0.1500 at press time on Monday, lacking clear momentum as the broader cryptocurrency market anticipates a recovery amid hopes of a US-Iran peace deal.
Commerzbank’s FX Research team, including Charlie Lay and Dr. Henry Hao, notes that Brent Oil has been volatile as markets react to prospects of a US-Iran agreement and the continued closure of the Strait of Hormuz.
The GBP/USD pair gains traction to near 1.3480 during the early Asian session on Monday. The US Dollar (USD) weakens against the British Pound (GBP) as the United States (US) and Iran signal peace progress. Trading volumes are expected to be light due to a market closure for Memorial Day in the US.