Reports of rockets hitting Iraqi green-zone – Developing story

Developing story

Air raid sirens are reportedly coming from the US embassy and explosion that sounded like rocket landing, but its unclear whether its in the Baghdad green zone or a nearby neighbourhood. Markets are on high alert but false reports are to be expected, yet it is crucial to stay aware of these rumours as they develop. 

Yesterday, we faced simial reports early on, with confusion as to whether the reports of missiles fired at a US base were indeed real or not. As it transpired, they turned out to be real but it took the market quite some time to react. 

What is expected, is that these latest attacks could well have come from the network of Iran-backed militias in Iraq, Syria, Lebanon and Yemen remain intact, and analysts believe hardliners will be empowered by the assassination of Soleimani.

Update

• Iraqi military says two katyusha rockets fall inside Baghdad's green zone, no casualties – Statement
• Iraqi Government statement: Two Katyusha rockets hit Baghdad's Green Zone. No casualties reported.

• (Reuters) - Three Katyusha rockets fell on Wednesday inside Baghdad's heavily fortified Green Zone which houses government buildings and foreign missions, causing a fire, Iraqi police sources told Reuters.

  Sirens were sounding inside the Green Zone, and at least one of the rockets fell 100 metres away from the U.S. embassy, the sources said.

Market reactions

On the knee-jerk of these rumours, the Yen has strengthed, from a high f 109.20 to a low of 109.00 so far. Gold prices have also popped from $1,553. to a high of $1,562.