The development of the Iran-Israel war conflict is still hot, almost 2 weeks since the attack was initiated by Israel.
President Donald Trump warned Iran to stop the war after the United States (US) attacked Iranian nuclear facilities on Sunday.
Ignoring the warning, Iran responded by launching a missile attack on a US military base in Qatar.
This followed Qatar's announcement that it was closing its airspace to ensure the safety of its citizens.
A panic situation erupted in Doha after the attack
Following that, the United Arab Emirates (UAE) and Bahrain also announced the closure of their airspace.
However, the latest development is seen to change the pattern of market movements driven by a more positive change in sentiment at the moment.
This followed Trump's announcement claiming that both Iran and Israel have now agreed to a ceasefire and hold negotiations to end the war.
However, the announcement was denied by Iran, which said that no proposal for a ceasefire had been accepted.
Iranian media called Trump's ceasefire announcement "false and delusional."
However, a separate report said Iranian officials had told Reuters that their country had agreed to a ceasefire.
Markets awaited official statements from both countries, expecting the situation to remain volatile and attacks to continue.
The US dollar weakened again in the market, with a sharp decline in value in the New York session yesterday.
Safe-haven asset gold also suffered a decline in value as the market was briefly calmed by rumors of a ceasefire.
