CNN's Tapper spoke to President Trump, Trump reportedly told him, “We’re knocking the crap out of [Iran], I think it’s going very well.”

• Tapper says that Trump also said: “we haven’t even started hitting them hard, the big wave hasn’t even happened. The big one is coming soon.”
• On who might emerge to lead Iran, Trump said, “We don’t know who the leadership is. We don’t know who they’ll pick. Maybe they’ll get lucky and get someone who knows what they’re doing.”

Trump's comments about escalating military action against Iran could heighten geopolitical tensions, impacting risk sentiment across markets. Investors may respond by favoring safe havens like gold and the JPY or reacting in the oil markets, where any conflict-related supply disruptions would be significant. This talk of a 'big wave' suggests an expectation of more aggressive measures, which could ripple through equity and FX markets as market participants reassess risk profiles and potential economic impacts.