Trump downplays escalation risks while warning Iran against breaking agreements
- The US President Donald Trump says Iran can no longer break agreements.
- Donald Trump says he wants to avoid targeting power plants and bridges.
- Trump's comments ease fears of an immediate escalation in the Middle East.
In an interview with Fox News, cited by Reuters, US President Donald Trump said that Pickaxe Mountain, an Iranian underground nuclear site, is not a big problem, adding that the United States (US) is now in a very strong position with Iran.
The US President also said that he would like to avoid targeting critical infrastructure such as power plants and bridges. These remarks may reassure investors that Washington is seeking to avoid a broader regional conflict.
At the same time, Trump maintained a hardline stance on Iran, saying that Iran can not break deals anymore. The comments suggest that Washington intends to maintain diplomatic pressure on Tehran while signaling a preference for measures that reduce the risk of a direct military confrontation.
Key takeaways
Pickaxe Mountain is not a big problem.
We have a very strong position with Iran now.
Would like to avoid attacking power plants, bridges.
I'm not looking to do that.
We cannot have Iran break deals anymore.
Market reaction
The US Dollar (USD) weakens following these comments, with the US Dollar Index (DXY) giving up its earlier gains to trade flat on the day around 101.53 at the time of writing. At the same time, Oil prices remain under pressure, with West Texas Intermediate (WTI) US Oil losing 1.24% on the day to trade around $80.20 at the time of press.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.01% | -0.08% | 0.08% | -0.09% | 0.30% | 0.01% | 0.01% | |
| EUR | -0.01% | -0.08% | 0.06% | -0.12% | 0.28% | 0.02% | 0.00% | |
| GBP | 0.08% | 0.08% | 0.15% | 0.00% | 0.39% | 0.11% | 0.11% | |
| JPY | -0.08% | -0.06% | -0.15% | -0.17% | 0.21% | -0.05% | -0.04% | |
| CAD | 0.09% | 0.12% | -0.01% | 0.17% | 0.40% | 0.10% | 0.12% | |
| AUD | -0.30% | -0.28% | -0.39% | -0.21% | -0.40% | -0.25% | -0.28% | |
| NZD | -0.01% | -0.02% | -0.11% | 0.05% | -0.10% | 0.25% | 0.01% | |
| CHF | -0.01% | -0.00% | -0.11% | 0.04% | -0.12% | 0.28% | -0.01% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).