Overview
- President Trump told CBS the war is "very complete," prompting a reversal in safe-haven flows and a bounce in equities.
- Brent crude briefly jumped more than 25% to about $119.50 before sliding after G7 finance ministers signaled potential releases of strategic reserves.
- The dollar gave up early gains as oil fell back, with the euro and sterling turning higher on the day.
- USD/JPY hovered near the 158–159 region associated with past intervention, keeping traders cautious as BoJ hike odds remain low.
- The Indian rupee hit fresh record lows despite RBI intervention, while markets priced roughly 41 basis points of Fed cuts by year-end.