President Trump's decision to cancel a planned strike on Iran has led to a drop in oil prices, with WTI and Brent both down more than 4% in early Asia trading. Meanwhile, OPEC+ approved a production quota increase of around 188,000 barrels per day from September, completing a phased rollback of a 1.65 million bpd cut originally agreed in 2023. Japan and the U.S. also confirmed a joint foreign-exchange intervention with the U., marking the first coordinated action between the two countries since 2011. The dollar has retreated sharply, trading at a near 40-year low of 164 last week. AstraZeneca is considering a merger with Bristol Myers Squibb valued at roughly $400 billion.