Spain's prime minister Sanchez said he supports an agreement between Iran and the United States.

Nomura Research Institute economist Takahide Kiuchi said Fed policy will likely be the primary driver of USD/JPY despite recent BOJ rate hikes; the pair remains above 160. He said the Fed’s latest dot plot has not fully priced in the oil-price decline following progress in U.S.-Iran talks. Falling energy costs should quickly push down U.S. retail gasoline prices, but the Fed’s policy path will hinge on the trend in non-energy prices. Kiuchi added that if the Fed under Wosh reduces communication on future policy and lowers market transparency, volatility could increase.

US President Trump said the Iran deal is a very strong deal.