NZD/USD struggles as fragile US-Iran peace talks keep markets cautious

Fragile US-Iran peace talks are fueling market caution as tensions remain elevated. Initial optimism stemmed from potential easing of tensions and the resumption of shipping through the Strait of Hormuz, but Iran's rejection of parts of the US proposal has complicated the situation. Despite relatively resilient US labor market data, the market remains cautious ahead of key employment figures.