US imposes further sanctions on Iran, relating to construction/missile program

In an additional blow to the Middle East giant, the United States (US) Secretary of State Pompeo recently announced further sanctions, this time concerning Iran’s construction sector and missile program, to curb the oil-rich nation’s nuclear program.

FX implications

With the news showing increased tensions between the US and the Middle East, which is the major Oil resource, safe-havens like the Japanese Yen (JPY) and Gold, coupled with the Oil prices, are likely to remain positive.