US-Iran tensions continue to be the main story for markets as we get into August trading. The situation is putting markets in a bit of a bind, as we have seen how this story played out before. He once again said yesterday that "talks are now ongoing" at Iran's request and that the Strait of Hormuz could even open tomorrow. He did check back some optimism on nuclear talks as he said that "denuclearisation will take a little while". Whether or not nuclear talks will actually begin or succeed (spoiler alert: it won't), is a different story.