The euro weakened against the dollar in London trading on the 22nd, reaching around $1.1434, its lowest level since late July, before recovering as reports about Iran potentially reopening the Strait of Hormuz within seven days drove oil prices and U.S. Treasury yields lower. At 4:00 p.m. UK time, the euro traded at $1.1440–1.1450, down $0.0030 from the previous day. The dollar initially benefited from position adjustments and expectations of further U.S. rate hikes, but broad dollar selling began shortly after 9:30 a.m. UK time as crude futures fell on reports concerning the Strait of Hormuz. Kyodo News and Reuters reported that Iran had conveyed its willingness to reopen the waterway if the U.S. met demands including lifting a military blockade of Iranian ports. President Trump discussed Iran with Gulf state leaders on the 22nd and said in a UN General Assembly address that an agreement with Iran could be reached after the U.S. midterm elections. The dollar also fell against the yen, with dollar-yen moving between 156.83 yen and 157.78 yen, while persistent concern about Japanese currency intervention supported the yen. WTI crude futures fell to the $92 range, and the U.S. 10-year Treasury yield dropped from around 4.97% to 4.92%, reinforcing the market pattern in which lower geopolitical risk reduces energy-driven inflation concerns, weighs on yields and pressures the dollar. Attention remains on statements by world leaders and diplomatic developments involving Iran and the Strait of Hormuz.