**US and Iran reached a 14-point memorandum of understanding in mid-June 2026 to end more than 100 days of conflict, reopen the Strait of Hormuz without tolls, lift the US naval blockade, and begin a 60-day negotiation window on Iran’s nuclear program, sanctions relief, and related issues.** The MOU was virtually signed by President Trump and Iranian officials, with a formal signing ceremony planned for June 19 in Geneva. While this marks the first major diplomatic breakthrough in the 2025–2026 negotiations—mediated by Qatar, Pakistan, and others—US and Iranian interpretations diverge on implementation details such as asset releases and long-term Hormuz management. Trader sentiment reflects progress toward de-escalation but accounts for remaining uncertainty over whether the interim ceasefire evolves into a permanent, verifiable agreement within any specific timeframe.