Trump meets with his national security team to discuss new Iranian proposal

U.S. President Donald Trump met with his national security team on Monday to discuss a new proposal offered by Iran, White House Press Secretary Karoline Leavitt confirmed.

Leavitt said that it was unclear whether the meeting had concluded, but that the relevant proposal was indeed under discussion. However, she did not "want to get ahead of the president or his national security team" in making any statements.

Iran has informed mediators of a proposed three-phase framework for negotiations and said talks could resume if the United States agrees to it, according to Iranian media.

The first phase focuses on ending U.S.-Israeli aggression and securing guarantees that fighting will not resume against Iran and Lebanon. During this stage, Iran would not discuss any other issues. If agreement is reached on the first phase, discussions will move to a second phase centered on the management of the Strait of Hormuz. The third phase will address Iran's nuclear program.

Iran, through Pakistani mediators, has presented the United States with a new proposal to reopen the Strait of Hormuz and end the war, while postponing nuclear negotiations to a later stage, U.S. online media outlet Axios said Sunday, citing a U.S. official and two sources familiar with the matter.

The new proposal is aimed at breaking the current stalemate in the talks and bypassing the internal disagreements within the Iranian leadership about the scope of nuclear concessions it is willing to make, the report said.

However, reaching such a deal would leave Trump with little leverage to press Tehran to give up its stockpile of enriched uranium and suspend uranium enrichment, the report added.

The U.S. dollar softened in late trading on Monday.

The dollar index, which measures the greenback against six major peers, dropped 0.03 percent to 98.496 at 15:00 (1900 GMT).

In late New York trading, the euro strengthened to 1.1720 dollars from 1.1713 dollars in the previous session, and the British pound rose to 1.3534 dollars from 1.3521 dollars in the previous session.

The U.S. dollar bought 159.45 Japanese yen, higher than 159.44 Japanese yen in the previous session. The U.S. dollar was up to 0.7856 Swiss francs from 0.7855 Swiss francs, and it declined to 1.3627 Canadian dollars from 1.3673 Canadian dollars. The U.S. dollar dropped to 9.2247 Swedish Kronor from 9.2304 Swedish Kronor.