Iran: Will stop attacking if there is no response from the US, risk-recovery underway
|The risk sentiment is seen recovering slightly, with the safe-havens and oil trimming gains probably on the latest reports quoting Iran, saying that they'll stop attacking if there is no response from the US.
Key Quotes (via US media):
if there is no retaliation from America for these latest attacks then Iran will stop attacking.
But if America attacks then their response will be crushing and widespread.
This comes after Iran retaliated to the US’ killing of the Quds Force leader Soleimani last Friday. Iran fired missiles that hit an American base near Erbil airport in Iraq’s Kurdistan, Reuters has reported, citing Fars.
FX Implications:
Markets are expecting both sides to extend restraint going forward and hence the yen loses ground on the above headlines, with USD/JPY back above 108.00. Oil prices reversed sharply from multi-month highs while Gold slipped back below the $1600 level.
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