Markets breathe a sigh of relief as U.S. strikes on Iran pause, sparking hopes of de-escalation and lifting Aussie shares—while oil prices retreat nearly 4% after a tense run-up. Wall Street’s Friday slump, led by tech stocks, contrasts with easing bond yields. With Fed meeting looming and inflation risks rising from energy and tariffs, investors brace for at least one rate hike this year—and a dollar more at the pump.

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