Iran Deputy Foreign Minister: Iran has no reason left to carry out its nuclear deal commitments unilaterally

Flows into safe-haven asset classes are evident due to rising tensions between the U.S. and Iran.
Trump responded to previous comments from Iran over sanctions, the latest comes from Iran's Deputy Foreign Minister.

Ross J Burland FXStreet

Iran's Deputy Foreign Minister has crossed the wires in recent trade and said that Iran has no reason left to carry out its nuclear deal commitments unilaterally. This follows a decision from the Trump administration to act more sanctions on Iran at the start of this week when Trump signed an executive order to do so. Trump aid this was not about oil and instead put an emphasis on nuclear arms. The sanctions are targeting a number of individuals, notably, Iran's Supreme Leader, Ayatollah Ali Khamenei, who Mr Trump said was "ultimately responsible for the hostile conduct of the regime". Fresh tweets came through today from Trump tweets after Iran's President Hassan Rouhani said the move proved the White House was "mentally retarded".

Trump's twitter responses

Mr Trump said it showed Iran's leaders "do not understand reality":

Market price implications:

The U.S. dollar is taking most of its cues from the sentiment surrounding the Federal Reserve's recent switch to a dovish bias. However, at times of war, both the U.S. Dollar and global oil prices rise due to demand, as do risk-off asset and currencies such as precious meats, i.e. gold & silver while the CHF and JPY attract safe haven flows.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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