Iran launches a ballistic missile, striking near the US Consulate in Erbil, Iraq

Dhwani Mehta FXStreet

Amidst further escalation in the Middle East geopolitical tensions, Iran’s Islamic Revolutionary Guard Corps (IRGC) fired missiles at targets in northern Iraq, according to a statement released by Iranian state media.

“Ballistic missiles were used to destroy espionage centers and gatherings of anti-Iranian terrorist groups in the region late tonight,” the media reported.

The ballistic missile was struck near the US Consulate in Erbil, Iraq, Iran’s IRGC said.

It said the targets were the positions of “spies and dissident groups”, however, Sky News reported the US Consulate in Erbil had been attacked by “long-range missiles with great destructive capacity.”

Iranians retaliated against the terrorist attacks this month that killed almost 100 people near the burial site of General Qassem Soleimani.

The attacks come amid heightened fears of Israel’s continued conflict offensive in the Gaza Strip and escalation in the Red Sea by Iran-backed Houthi rebels.

Market reaction

The Middle East geopolitical escalation has bumped up the safe-haven demand for the US Dollar, lifting the US Dollar Index by 0.40% on the day to 102.80. The US S&P 500 futures, a risk barometer, are down 0.18% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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