USD, JPY, EUR, AUD flows: Uranium standoff rumbles on

Much as the market is weary of chasing the latest erratic headlines, it has little choice but to juggle hedging regardless. The latest wire headlines have Iran's Supreme Leader issuing a directive that near-weapons-grade uranium should not be sent abroad, according to two senior Iranian sources. That leaves it in direct standoff over the central issue, without which Israel won't consider the war ended and hard to see Trump viewing the deal as anything but garbage. Iran is floating alternatives around possible dilution but it's hard to see that cutting it as present. Net result is the unavoidable adjustments - crude +2%, bonds dipping, dollar mildly firmer.  We've seen from this morning's data that the more the unresolved situation rumbles on, the greater the macro impact from the supply squeeze and confidence impact.