Iran says Strait of Hormuz won't reopen based on Trump's 'absurd' display and only Iran and Oman will decide the future of the Strait of Hormuz

Iran's statement about the Strait of Hormuz highlights escalating tensions and its refusal to heed external influence, particularly from the U.S. This stance could provoke a risk-off sentiment in markets, influencing oil prices and related commodities, while also potentially impacting currency flows, notably in the USD and JPY as investors seek safety in times of uncertainty.