[MARKET UPDATE] Earlier Trump-induced price action unwinds as Iranian media reports of no direct talks between US and Iran; Brent re-approaches USD 106/bbl to the upside, US equity and T-note futures pare back some gains, DXY edges higher

The reported lack of direct talks between the US and Iran has led to a reversal in earlier price movements, particularly impacting Brent crude, which is rallying towards USD 106 per barrel. This news reflects a potential de-escalation in geopolitical tensions, causing US equities and Treasury futures to lose some gains as the market reassesses risk, while the dollar index strengthens amidst the uncertainty.