investingLive Asia-Pacific FX news wrap: OpenAI is considering major price cuts (WSJ)

ICYMI - Georgia central bank buys $100mn more gold as global reserve demand surgesIran fires fresh missiles at Jordan, Kuwait and Bahrain in widening attacksWSJ: OpenAI weighs major price cuts to compete with Anthropic before IPO pushGaslighting the oil market - global oil inventories six weeks from operational minimumsPBOC sets USD/ CNY reference rate for today at 6.8150 (vs. estimate at 6.7819)Oil update ICYMI - US bombed Iran second night in a rowIran denies Trump contact claim as US says no warships hit in HormuzNinjaTrader licensing glitch broke your indicators? Here's the fix (its not your computer)Trump says Iran asked US to halt strikes, bombing to stop shortlyUS Iran strikes focus is navy bases and air defences to force deal - updateBombing across southern Iran near Hormuz, also Tehran, Hegseth strike threat materialisesWar man Hegseth says US to strike Iran tonight as Tasnim warns of heavy responseHegseth says will be hitting Iran hard tonightTrump Situation Room meeting on Iran strike options, one is big scale, short durationStocks rally shortly after the open, but reverse lower. Close near the lows for the dayOracle Q4 beats on EPS and margins, plans $40bn debt and equity raise in FY2027Session wrap US launched a second consecutive night of strikes on Iran, with CENTCOM saying additional self-defense strikes began at 5:15pm ET against multiple targets at the Commander in Chief's directionIran retaliated by targeting US bases and ships near the Strait of Hormuz and declared the waterway closed to all vessels, though CENTCOM said commercial ships continued to transitWTI briefly topped $93/bbl before paring most gains, as Trump had flagged the strikes in advance and warned of further bombing if no deal is signedTrump claimed he ordered a halt after direct contact with Iranian officials, though Iranian media denied any contact took place, and he said the next 24 hours would be decisive on a potential dealVice President Vance said the US is engaged with both moderate and hardline voices in Iran as part of negotiationsRegional equities saw losses on dwindling sentiment while major FX remained subduedSeparately, OpenAI is considering major price cuts to compete with Anthropic ahead of both companies' planned IPOs, according to the Wall Street JournalOil dominated the session as the US conducted strikes against Iran for a second straight night, with Tehran responding by hitting regional US bases and shipping near Hormuz and declaring the strait closed, a move CENTCOM partially disputed by noting commercial vessels were still transiting. The fresh hostilities pushed WTI briefly above $93/bbl before the advance faded, with traders having largely priced in the prospect of strikes given Trump's earlier warnings, including a threat to escalate further if no deal is reached by June 11. A degree of uncertainty crept in late in the session after Trump claimed to have ordered a pause in bombing following direct contact with Iranian officials, a claim Iranian state media denied. Trump said the coming 24 hours would be decisive for any agreement, while Vance said Washington remains engaged with both moderate and hardline factions in Tehran. Beyond oil, regional equities extended losses as risk sentiment continued to deteriorate, while major FX pairs stayed subdued, reflecting the broader wait and see posture across asset classes. In tech, the WSJ reported OpenAI is weighing significant price cuts on its AI services to compete with Anthropic, with both companies preparing for IPOs, a development that could pressure margins across the sector regardless of the geopolitical backdrop. This article was written by Eamonn Sheridan at investinglive.com.