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Trump weighs major new military operation against Iran
FX analysis highlighted pressure on GBP/USD and EUR/USD amid a risk-averse tone, while gold slid and US crude rose above $90 on the escalation risk.
US President Donald Trump said he is close to deciding whether the United States will carry out a new military operation against Iran, describing it as potentially larger than anything before, according to reporting cited by FXStreet and Forexlive. Trump added that Israel would join the operation within two minutes if requested, and he said the US would not need outside help to conduct the attack, while he also indicated Iran’s leadership had not accepted an intermediary proposal discussed in the same reporting.
In FX market pricing on the day of the comments, FXStreet noted that the US Dollar strengthened as the market turned more risk averse, with GBP/USD extending its intraday slide and trading around the 1.3300 area after falling below 1.3350. EUR/USD also stayed under bearish pressure and was quoted below 1.1370, with FXStreet attributing the move to both the cautious ECB tone on near-term tightening and broad USD strength.
Separately, FXStreet said gold continued retreating, trading well below $4,100 early in the US session, while US crude rose to a fresh six-week high above $90, a move it linked to heightened US-Iran tensions and inflation fears that could strengthen expectations for Fed rate hikes.
Latest closeGold $4,117.00 ▲1.1%|WTI crude $87.52 ▲3.1%|EUR/USD 1.141 ▼0.0%