Session wrap

investingLive Asia-Pacific FX news wrap: Equites stage solid rallies on Iran deal optimism

Oil prices hover below $100 as China's demand cools, but strategic reserves are dwindling fast.

A Reuters poll found 42 of 45 economists expect the RBA to hold its cash rate at 4.35% on June 16, pausing after three hikes, though 18 of 44 still see rates at 4.60% or higher by end-September.

SpaceX IPO looms, boosting futures. Tech rebounds, but Oracle dips post-earnings. Bull market faces volatility.

Westpac expects the RBA to hold rates steady in June before resuming hikes in August and September, even as it trims its headline inflation peak forecast to 4.7% from 5.0% on lower oil prices.

Iran's IRGC said the country is stronger than ever and ready for a "decisive, regret-inducing" response to any aggression, citing recent strikes on US bases and the closure of the Strait of Hormuz.

US forces intercepted and shot down two Iranian one-way attack drones near the Strait of Hormuz, after Iran attempted to target commercial vessels transiting the waterway, according to a Fox News reporter.