FX.co ★ No set date for dropping Iran sanctions

"The Iranian nuclear deal and the lifting of most economic and financial sanctions on Tehran will take effect soon but there is no fixed date yet," European Union foreign-policy chief Federica Mogherini said.

Western officials said that Iran was still completing the steps to scale back its nuclear program required before the agreement can be fully implemented and most nuclear-related financial and economic sanctions lifted.

Speaking in Prague, Ms. Mogherini said her expectation is that the so-called implementation day for July’s nuclear agreement “could come rather soon.”

Last week, US Secretary of State John Kerry said the deal could be fully implemented within days. On Monday, Western officials said this could happen as early as Friday but was more likely to take a few days longer.

However, the US is planning to impose new sanctions on Iran over two ballistic missile tests conducted last year.