|

US President Trump: US has total control over the Strait of Hormuz

United States (US) President Donald Trump just announced through Truth Social that he has ordered to "shoot and kill" any boat that is putting mines in the waters of the Strait of Hormuz.

I have ordered the United States Navy to shoot and kill any boat, small boats though they may be (Their naval ships are ALL, 159 of them, at the bottom of the sea!), that is putting mines in the waters of the Strait of Hormuz. There is to be no hesitation. Additionally, our mine “sweepers” are clearing the Strait right now. I am hereby ordering that activity to continue, but at a tripled up level! Thank you for your attention to this matter. President DONALD J. TRUMP"

On a second post, he added that Iran is having a very hard time figuring out who their leader is, while adding that the US has total control over the Strait of Hormuz:

Iran is having a very hard time figuring out who their leader is! They just don’t know! The infighting is between the “Hardliners,” who have been losing BADLY on the battlefield, and the “Moderates,” who are not very moderate at all (but gaining respect!), is CRAZY! We have total control over the Strait of Hormuz. No ship can enter or leave without the approval of the United States Navy. It is “Sealed up Tight,” until such time as Iran is able to make a DEAL!!! Thank you for your attention to this matter. President DONALD J. TRUMP"

Tensions between the US and Iran continue to escalate, maintaining financial markets in risk-off mode.

Market reaction

Trump's words had no immediate impact on financial markets, but the US Dollar (USD) holds on to intraday gains against all major rivals.

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 New Zealand Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD0.12%0.10%0.02%0.06%0.21%0.47%0.11%
EUR-0.12%-0.00%-0.11%-0.06%0.07%0.38%-0.03%
GBP-0.10%0.00%-0.09%-0.05%0.11%0.39%-0.02%
JPY-0.02%0.11%0.09%0.03%0.19%0.43%0.07%
CAD-0.06%0.06%0.05%-0.03%0.16%0.41%0.03%
AUD-0.21%-0.07%-0.11%-0.19%-0.16%0.28%-0.14%
NZD-0.47%-0.38%-0.39%-0.43%-0.41%-0.28%-0.40%
CHF-0.11%0.03%0.02%-0.07%-0.03%0.14%0.40%

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).

Author

FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

More from FXStreet Team
Share:

Editor's Picks

GBP/USD: Downward-sloping trendline near 1.3470 remains key barrier

The British pound faces selling pressure against its major currency peers, trading 0.1% lower at around 1.3420 against the US Dollar during the European trading session on Tuesday.

Euro clings to the bid bias above 1.1500

EUR/USD has picked up pace, reversing Monday’s decline and advancing past the 1.1500 barrier on Tuesday. In the meantime, hopes for a diplomatic solution to the Middle East crisis keep the US Dollar under modest downside pressure, helping spot in its recovery.

Coinbase Bitcoin Premium Index extends historical negative streak as risk appetite deteriorates
The Coinbase Bitcoin Premium Index extends its negative streak to 78 consecutive days on Tuesday, the longest on record. This reading comes amid the ongoing bearish trend, which has seen Bitcoin (BTC) drop by almost 50% from its record high to trade around $64,000.
Why the WTI sell-off may be hiding a supply warning
Prices for the barrel of the American Oil benchmark have fallen sharply as hopes of a US-Iran agreement have resurfaced, but a deeply backwardated Oil curve, tight Cushing stocks and light speculative positioning all warn that the sell-off may have gone too far.
9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?
The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.