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Traders are waiting for U.S. and Iranian officials to meet in Switzerland on Friday, when they are expected to sign an initial agreement and begin a 60-day cease-fire.
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Days after it was first announced by President Donald Trump, U.S. officials on Wednesday finally detailed what is in the memorandum of understanding with Iran.
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US officials have described the MoU as 'performance-based', with Iran benefitting as it complies.
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Officials at the Federal Reserve were split between no cuts this year and one or more rate increases as they braced for higher inflation, according to a new set of projections.
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