The market breathed a sign of relief that there were no weekend strikes but now there’s a newswire report that the US sees imminent strikes on Israel by Iran or its proxies.
Here’s the report from Bloomberg’s Jennifer Jacobs:
Oil jumped on the report and the yen caught a bid.
At the same time as the report, US President Joe Biden was speaking with his Japanese counterpart at a press conference and said:
“We also want to address the Iranian threat to launch a significant–they’re threatening to launch a significant attack in Israel. As I told Prime Minister Netanyahu, our commitment to Israel security against these threats from Iran and its proxies is iron clad. Let me say it again, iron clad – all we can to protect Israel’s security.”