IRAN: Khamenei Adviser-Iran 'Ready' For Indirect Talks w/US

Infitting with the dip to new pullback lows in the 10yr yield, the USD is edging to the lowest levels of the day. Interestingly, this is somewhat counter to the price action observed at the European equity open, which saw yields dip, and the USD gain on presumably safe haven flow.

• The fresh demand for US Treasuries is still likely tied to trade tariff worry, but the further tailwind from month-end extensions the futures roll will mean USD is not benefiting from any safe haven buying, or inflationary concerns over tariffs.
• The 15-min candle chart shows EUR/USD's rally putting the price within range of layered resistance between the 1.0500 handle and 1.0506, but resistance seen firmer into 1.0528, above which we see new YTD highs.
• EUR/GBP remains rangebound - exposing the latest leg higher as USD-based, while markets look to PM Starmer set to address parliament imminently.

SFIK5 95.75/95.85/95.90 1x3x2 call fly paper pays 2.5 on 4K all day.

• Total 17,500 SFRM5 96.25/96.87 call spreads at 3.0 ref 95.89 over the last few minutes (0717ET-0718ET)