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The US Defence Secretary Mark T. Esper crossed the wires, via Washington Post (WaPo) on early Tuesday morning in Asia. In addition to confirming that the US has not made any decision to leave Iraq, the US diplomat also mentioned that the military would “follow the laws of armed conflict” if needs to strike Iranian cultural sites.

Key quotes

The United States has not made any decision to leave Iraq.

Asked whether the U.S. military was prepared to strike Iranian cultural sites, as President Trump has suggested, Esper said the military would ‘follow the laws of armed conflict.’

FX implications

The market’s risk tone gets heavier with such developments amid the fears of the US-Iran war. As a result, prices of Gold and WTI, around $1,566 and $62.90 by the press time, might recover some of their latest losses.