**BREAKING: Iran Declares Ceasefire Meaningless Following US Strikes on Tehran**
Iran’s Foreign Ministry has condemned overnight US military strikes on Tehran, declaring the attacks have rendered the existing ceasefire “practically meaningless” according to Guardian reports. The strikes represent a significant escalation in Middle East tensions and threaten to unravel recent diplomatic progress between the two nations.
Markets are bracing for immediate impact as geopolitical risk premiums surge. Oil prices are expected to spike on renewed supply disruption fears, while safe-haven assets including gold and the US dollar will likely see increased demand. Energy sector equities and defense stocks may rally, while broader equity markets face downward pressure from heightened uncertainty.
Traders should monitor crude oil futures closely as Iran remains a critical OPEC producer. Any further escalation could trigger supply chain disruptions affecting global energy markets and inflation expectations, potentially influencing central bank policy decisions.
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FXnCO Insight
** Position for volatility by hedging energy exposure and increasing allocations to safe-haven currencies, particularly USD and CHF, while watching Brent crude resistance levels.
Source: FXStreet