All diplomatic contacts between the US and Iran have been suspended

All diplomatic contacts between the US and Iran have been suspended.

The suspension of all diplomatic contacts between the US and Iran signals a potential escalation in tensions, which could impact energy markets, particularly oil prices. This development may also influence safe-haven flows into Gold and the JPY, while adding volatility to the forex markets. Traders should be cautious about how this situation evolves, as it could lead to further geopolitical risks affecting market sentiment broadly.