U.S. President Donald Trump has announced that a planned military strike against Iran has been called off following discussions.
The decision comes amid heightened tensions between the U.S. and Iran, with Trump previously warning of potential 'massive' military action if Iran continued to 'misbehave.'
The cancellation of the strike is seen as a in the ongoing geopolitical standoff.
Markets have been closely watching the situation, with investors assessing the potential impact of any military escalation in the region.
The move could signal a shift in strategy as diplomatic channels remain open for resolving the conflict.
The U.S. and Iran have been engaged in a tense standoff for months, with Trump expressing dissatisfaction with recent offers from Iran to end the conflict.
The administration has been under pressure to avoid further military action, with concerns over the for global stability and energy markets.