China calls for joint efforts on resuming navigation through Strait of Hormuz

China calls on the parties concerned to make joint efforts to resume normal navigation through the Strait of Hormuz as soon as possible, foreign ministry spokeswoman Mao Ning said on Wednesday.

Following weeks of escalating tensions, Iran and the United States have agreed to a 2-week ceasefire less than two hours before a deadline set by U.S. President Donald Trump, and are set to hold negotiations in Pakistan.

Economic pain has come from the weeks of disruption to shipping along the Strait of Hormuz, a vital chokepoint through which a considerable share of the world's oil, liquefied natural gas, and fertilizers are transported.

When responding to a question on the Strait of Hormuz at a regular press briefing in Beijing, Mao said stability in the region is in the common interest of the international community.

"The Strait of Hormuz is an important international trade route for goods and energy. Maintaining the security, stability and smooth flow of traffic in this region is in the common interest of the international community. We hope that all parties will work together to promote the early restoration of normal navigation through the strait," said the spokeswoman.

The U.S. dollar weakened in late trading on Wednesday.

The dollar index, which measures the greenback against six major peers, dropped 0.72 percent to 99.142 at 15:00 (1900 GMT).

In late New York trading, the euro increased to 1.1683 dollars from 1.1574 dollars in the previous session, and the British pound was up to 1.3415 dollars from 1.3251 dollars in the previous session.

The U.S. dollar bought 158.51 Japanese yen, lower than 159.73 Japanese yen of the previous session. The U.S. dollar declined to 0.7914 Swiss francs from 0.7988 Swiss francs, and it fell to 1.3849 Canadian dollars from 1.3899 Canadian dollars. The U.S. dollar lost to 9.3069 Swedish kronor from 9.5065 Swedish kronor.