Breaking: Risk-off as Iran retaliates, US forces in Iraq are under “missile attack from Iran”

This is a developing story.

So far, we know that some 13 missies have been reported launched at the Ain Assad Air Base. White House says they are aware of the attack – US President Trump has been briefed and is monitoring the situation.

Updates (since first publishing of the main headline): 

The markets are somewhat relieved as a US official tells CNN there are no reports of US casualties at this time but an assessment is still underway).

• Trump may make a statement tonight. 
• US Defense Secretary Esper and U.S. Secretary of State Pompeo have arrived at the White House.
• Chairman of the Joint Chiefs of Staff, Mark Milley, also.
•  Iran's guards warn US any aggression against Tehran will get a crashing response - Statement/State TV.
•  Iran's guards advise US to withdraw its troops from the region to prevent the killing of more soldiers - Statement/State tv
• Iranian and US fighter jets have taken off – Social media rumours
• Iran says another US retaliation will result in an Iranian attack on Israel.

Footage of missiles launched at US airbase

The Ayn al Asad is an Iraqi Armed Forces and United States armed forces base located in Al Anbar Governorate of western Iraq. The base is also used by UK forces in Iraq. It was the second-largest US military airbase in Iraq during Operation Iraqi Freedom.

Initial key notes

• Soldiers of IRGC's aerospace unit have launched a successful attack on Al Assad military base – IRGC

• US Official: No news of damage form the rocket attacks – Reuters

• Six rockets landed at Iraq's Ain Al-Asad air base that contains US forces - Al Madeen TV

• Missiles being launched towards Al Asad Airbase in Iraq - Fox News

How will the Pentagon respond?

There are reports in the middle east (unconfirmed as of now) saying at least one US military jet is on fire at Ain Al-Asad base in western Iraq following a barrage of Iran rockets targeting the US base.

Depends on whether there were US casualties.

It is unclear how the US will now respond, but the Pentagon has acknowledged and will take appropriate action:

• US Pentagon: We will take all necessary measures to protect and defend US personnel, partners, and allies in the region“

Market reactions, so far

• USD/JPY declines 40 pips to 108 as Iran takes revenge of Soleimani's killing by the US

• WTI price jumps to 8.5-month high on Iranian retaliation

• Gold refreshes multi-year top to cross $1600 amid calls of Iran attacks

• Japan's Nikkei share average falls more than 2 pct after US says Iran launched missiles - Reuters