Trump postpones strikes and markets react

The US president has extended by five days his deadline to ‘hit and obliterate’ Iran’s power stations and energy infrastructure if Tehran does not allow shipping to move freely. Pippa Crerar and Kiran Stacey discuss what is behind this change of tone and the impact the uncertainty will have on the cost of living in the UK. Plus, with just over six weeks until the local elections, they talk through what to watch as the results come in. Help support our independent journalism at theguardian.com/politicspod