Japan 10-year government bond yield rose 4.0 bps to 2.720%.

ECB policymaker Dolenc said if Middle East tensions do not escalate before the next policy decision and energy prices remain stable, the ECB could keep rates unchanged at the next meeting. Speaking at the Sintra Forum, he said a pause in tightening is reasonable if energy prices hold, commodity volatility does not spread and second‑round inflation effects do not materialize. Oil and gas remaining subdued would remove the need to rush further tightening, he added, and based on current data it may be appropriate to wait until before September. He cautioned there are still weeks to the next decision and geopolitical risk remains elevated after a recent uptick in hostilities.

Tanker-tracking firms say Iran has exported about 50 mln barrels of oil since U.S. sanctions were eased.