Iran's top joint military command says Trump's threats are 'delusional' and his threat have no effect on operations against US and Israel

Iran's military response to Trump's threats indicates continued tension between the U.S. and Iran, which could heighten geopolitical risks in the region. This sentiment may influence market perceptions of safety, potentially boosting demand for safe-haven assets like gold and the JPY while putting pressure on risk assets like equities and certain currencies involved in trade with the U.S. Vigilance is warranted as further escalations could directly impact energy prices given Iran's role in oil supply.