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Trump says US may intensify military campaign against Iran

FXStreet reports the USD strengthened versus the British pound as investors stayed cautious amid uncertainty around the US-Iran conflict.

Reported · Written up by our desk · Major Pairs

US President Donald Trump said during a White House press conference on Tuesday that the United States could intensify its military campaign against Iran, including possible strikes on the underground Pickaxe Mountain site.

Trump dismissed the idea of immediate negotiations with Tehran, reiterated that a blockade would remain in place, and said Washington is not finished with Iran. He also said he has no interest in meeting Iran until it is ready, while arguing Iran is trying to influence elections through Hormuz.

FXStreet also linked currency market positioning to the Middle East uncertainty, noting that the US dollar looked stronger against the British pound and that the added caution weighed on risk-taking in major FX pairs. The outlet cited factors including the uncertainty in the US-Iran conflict affecting investors’ willingness to take positions, and it pointed to the UK labor market backdrop as contributing to pressure on the pound.

In the same market wrap, FXStreet said EUR/USD was trading in a tight range in the low 1.1400s, with traders avoiding larger moves ahead of Thursday’s ECB gathering. It also said gold was gaining ground, though the provided text does not specify the extent of the move.

Latest closeGold $3,981.40 ▼1.6%|EUR/USD 1.145 ▼0.2%

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