U.S. Vice President Vance said Iran has so far been fulfilling its obligations under the agreement.

Pantheon Macro's Rob Wood says the Bank of England appears set to keep policy on hold for an extended period, although most MPC members acknowledge a risk that further rate hikes may be needed. Policymakers flagged the risk of oil prices remaining elevated, and noted recent inflation has undershot expectations but they see little evidence the Middle East conflict has caused a rapid demand shock. Pantheon Macro expects Bank Rate to remain at 3.75% through end-2027; unchanged guidance may disappoint markets after some had priced a chance of more than two MPC votes for a hike at the July meeting.

U.S. stocks opened higher on Thursday, June 18: Dow Jones Industrial Average up 441.42 points (+0.86%) to 51,933.97 at the open; S&P 500 up 86.10 points (+1.16%) to 7,506.20; Nasdaq Composite up 374.31 points (+1.44%) to 26,395.96.