The ceasefire between Iran, the US, and Israel holds despite an expiring deadline, as both sides engage in a 'war of blockades' in the Strait of Hormuz. Pakistan's efforts to host peace talks remain stalled, with delegations yet to arrive in Islamabad, highlighting the precarious diplomatic landscape following recent US-Israeli strikes on Iran.
The US economy saw an unexpected surge in job creation last month, adding 178,000 positions, as the unemployment rate dipped to 4.3%. This resilience comes despite the energy shock and geopolitical uncertainty arising from the US-Israel war in Iran, and is likely to influence the Federal Reserve's interest rate decisions.
The UK and over 40 allied nations are exploring diplomatic and economic measures, including potential sanctions, to compel Iran to reopen the strategically vital Strait of Hormuz. Foreign Secretary Yvette Cooper emphasised the collective effort to address Iran's disruption of the shipping lane, which has severely impacted global energy and trade.
