USD/JPY & Gold React as Iran Nuclear Talks Collapse on Ghalibaf Exit

Risk-sensitive assets are under significant pressure following reports from Israeli media outlet N12 that Iranian parliamentary speaker Ghalibaf has resigned from the nuclear negotiation team, raising fears of a complete breakdown in diplomatic talks. The development has triggered a classic risk-off move across forex markets, with safe-haven currencies like the Japanese yen and Swiss franc strengthening against the US dollar and other risk-correlated pairs. USD/JPY is likely seeing downward pressure as traders flee to traditional havens, while commodity currencies such as AUD and CAD face selling. Oil prices are expected to spike on supply disruption fears tied to renewed Middle East tensions, which could further weigh on energy-importing nations' currencies. Gold is also likely benefiting from the flight to safety. Traders should monitor USD/JPY support near recent lows and watch for further geopolitical escalation, as any confirmation of a full negotiation collapse could amplify risk-off flows. Key levels to watch include resistance on JPY and CHF crosses. The situation remains fluid, and headline risk is elevated heading into the next sessions.