Iran is ready to target the port of Fujairah and its key oil pipeline if the UAE continues to support US and Israeli attacks, in order to close the UAE's route to bypass the Strait of Hormuz, via Fars News citing sources

This headline indicates a significant escalation of tensions in the Middle East, particularly affecting UAE-Iran relations. Should Iran follow through on its threat, disruptions to shipping routes through the Strait of Hormuz could lead to higher oil prices and significant volatility in energy markets, thereby influencing currencies and geopolitical risk sentiment. Traders should closely monitor the situation, as further developments could have widespread implications across commodities and currency pairs, particularly oil and gold.