Global shares have fallen and oil prices have received a boost after US and Iranian negotiators called off peace talks, while the risk of official Japanese intervention mounted as the yen traded on the brink of a 40-year low.
The dollar headed towards its strongest weekly gain in a month, mostly at the expense of the yen, which has fallen for five out of the past six weeks to trade close to its weakest since late 1986, prompting a volley of warnings from officials in Tokyo that intervention is an option.
The MSCI All-World index was down 0.14 per cent on Friday, flipping into negative territory after US Vice-President JD Vance pulled out of a planned trip to meet Iranian negotiators in Switzerland on Friday.
