Vance cancels trip, oil rises to $60-$65 forecast by Q1 2027
Vance cancelled his trip to negotiate with Iran, causing oil prices to rise.
Japan’s CPI remained muted in May, with a 1.5% y/y increase.
The USD/JPY exchange rate surged, with Citi forecasting oil at $60-$65 by Q1 2027.
The BoJ deputy governor warned that delaying on price risks could cause long-term economic damage.