US envoy Witkoff has not spoken with the Iranians or an interlocutor in the days since the US and Israel launched strikes in Iran, according to CNN citing a senior Trump administration official

The lack of communication between the US envoy and Iranian officials following military strikes could suggest an escalation in geopolitical tensions. This could impact market sentiment and lead to supportive moves in safe-haven assets like gold and the JPY, while potentially weighing on riskier equities. Traders should watch for any further developments or responses from Iran that could exacerbate this situation.