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During his daily press conference, US President Donald Trump showed readiness to announce punitive measures on Iran.

Key quotes

US intends to restore nearly all UN sanctions on Iran.

More to come…

Market reaction

With the news add geopolitical risk to already gloomy market conditions, the risk barometer AUD/JPY remains on the back foot near 76.20 by the press time of early Thursday morning in Asia. The update should have helped oil prices but couldn’t combat the latest US dollar strength as WTI struggles to regain $43.00.