Iran’s state-run Tasnim News Agency reported on May 31 that Tehran plans to submit a new counter-proposal to U.S, but President Donald Trump, who had previously demanded more stringent conditions regarding the disposal of nuclear materials and the reopening of the Strait of Hormuz. Trump’s administration re-transmitted a draft agreement to Iran, insisting on stricter terms, particularly concerning highly enriched uranium (HEU).

Stalemate in Ceasefire Negotiations

According to Fox News, President Trump emphasized that an agreement with Iran would be reached “slowly but surely.” He also warned, “We are either going to get a great deal, or we are going to go back and finish it militarily.” The U.S. Central Command reported on Monday that the military successfully repelled attacks from Iranian drones, missiles, and armed small boats as it facilitated the passage of two U.S.-flagged vessels through the Strait of Hormuz.

Economic and Geopolitical Fallout

Heightened U.S.-Iran tensions are boosting demand for the dollar as a safe-haven currency. The dollar index (DXY) rose by 0.07% following the reported attacks. However, gains in the dollar are limited amid a 3% decline in crude oil prices, which ease inflation expectations and could prompt the Federal Reserve to adopt a more dovish monetary policy. U.S. economic data was mixed: March new home sales increased by 7.4% to 682,000 units, stronger than expected, while the April ISM services index fell slightly to 53.6 from 53.7.

Regional Tensions and Geopolitical Uncertainty

Regional tensions also spilled into Lebanon, where Israeli strikes have raised concerns over the stability of the ceasefire. Iran warned that the recent truce could unravel due to ongoing conflict. In a post on Truth Social, Trump called on Iran to stop its “highly paid PROXIES in Lebanon from causing trouble” and threatened “harder” strikes if necessary.

Meanwhile, geopolitical tensions have influenced the cryptocurrency market. Bitcoin (BTC) has seen increased volatility, with traders attributing the rise to global uncertainty. On X, trader Lennaert Snyder noted “suspicious” BTC price gains and predicted a potential move toward $66,000. Analysis from Binance indicated aggressive short selling in spot markets, though the rise was largely driven by derivatives activity.