Israeli media reports that the air force is attacking government buildings in Tehran

This development indicates a significant escalation in tensions involving Israel and Iran, which could have far-reaching implications for regional stability. Heightened geopolitical risks often lead to increased demand for safe-haven assets like gold and the yen, while also potentially affecting energy prices given Iran's role in global markets. Traders should watch for reactions in forex and commodities, especially in relation to safe-haven flows and supply concerns.