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

Asian session markets were driven primarily by escalating US-Iran tensions, with the US launching a second night of strikes on Iran and Tehran retaliating against US bases and shipping near the Strait of Hormuz. Oil briefly spiked, with WTI topping $93/bbl before giving back most gains as traders had already partly priced in further conflict. Risk sentiment weakened, pressuring regional equities, while major FX pairs remained subdued. Separately, the Wall Street Journal reported that OpenAI is considering major price cuts to compete with Anthropic ahead of planned IPOs, a development that could increase competitive pressure in AI services and weigh on margins across the sector.