US-Iran Talks Fail; Oil Surges, Dollar Strengthens

United States Central Command clarified the blockade applies only to vessels entering or leaving Iranian ports, not general transit through the Strait of Hormuz, yet tensions remain elevated as Iran's military warned against US naval approaches and Israel moved to heightened readiness. Despite Trump's stated indifference, reports from sources like WSJ suggest diplomacy is not dead, with a second round of talks possible, framing the blockade as a pressure tactic.

Separately, Hungary's election saw Viktor Orbán ousted after 16 years, which modestly supported the Euro due to improved EU cohesion prospects. Japan's 10-year yield rose to a 29-year high as oil-driven inflation concerns intensified following the geopolitical escalation.