investingLive European markets wrap: US-Iran 'he says, she says' drive volatility, caution

Geopolitical headlines around US‑Iran claims and a planned US transit through the Strait of Hormuz drove risk‑on/risk‑off swings in European morning trade, keeping markets tense. Energy led gains — WTI and Brent rose sharply on supply‑risk concerns — while safe‑haven flows boosted the dollar and prompted likely yen intervention that briefly pushed USD/JPY lower before a rebound. Equities turned defensive (S&P 500 futures pared earlier gains), US 10‑year yields ticked higher, and gold (XAUUSD) fell ~1.2% despite the geopolitical backdrop. Overall market reaction was mixed and cautious, with elevated volatility expected until clarity on the maritime situation and talks emerges.