Oxford Economics head of Japan research Shigeto Nagai said the Bank of Japan is more likely to raise its policy rate from 0.75% to 1.00% in June rather than July, citing rising global inflation concerns and market pricing of further Fed hikes over the next year. He warned a delayed hike would disappoint markets and could trigger further yen weakness, but flagged uncertainty from the Middle East conflict — and Japan's sensitivity to trade shocks — as a reason for caution.

On June 7 local time Iran launched multiple missile salvos at Israel in response to an escalation of Israeli strikes in Lebanon — the first direct Iranian missile attack since the April 8 ceasefire — marking a major regional escalation that could undermine U.S.-Iran talks and risk reigniting wider conflict. Israeli officials said all missiles were intercepted and threatened retaliation. Trump told Fox News he had advised Iran to stop firing and return to the negotiating table, said he would call Israeli Prime Minister Netanyahu to urge Israel not to retaliate, and expressed displeasure at Israel's earlier airstrike near the southern suburbs of Beirut.

India's oil minister expects rising volumes of natural gas to be shipped from Mozambique.