SWISS NATIONAL BANK deputy governor said the bank has not observed any second-round inflation effects, which is reassuring.

Saudi outlet Alhadath, citing senior sources, reports Washington has told Iran it will receive no concessions until it limits its nuclear capability. Sources said progress in US‑Iran talks hinges on whether Iran responds to the Trump administration's demands on its nuclear program. They added that, because Iran has lost control of the Strait of Hormuz, the US no longer treats Hormuz as a priority, and mediation efforts between Washington and Tehran have stalled.

President Trump said he expects Russia to share significant information.