Recent geopolitical tensions between the US and Iran have heightened hopes for a potential deal, with Iran's frozen assets emerging as the final hurdle in negotiations. The Islamic Revolutionary Guard Corps (IRGC) recently downed a US MQ-9 drone, reflecting ongoing hostilities. Meanwhile, the European Central Bank (ECB) has signaled a likely interest rate hike in June, although further increases will depend on economic data. Economic sentiment in the UK shows a slower decline among retailers, while Japan's government maintains a moderately recovering economic outlook. In the markets, oil prices have slightly increased as investors await more developments regarding the US-Iran situation. The Indian Rupee has also shown signs of recovery due to falling oil prices, although geopolitical risks continue to loom. Overall, while the session has been calm, the focus remains on how the situation between the US and Iran unfolds, particularly regarding the unfreezing of Iranian funds, which could pave the way for a Memorandum of Understanding aimed at reducing tensions in the Strait of Hormuz.