The US has put a USD 10mln bounty on the leader of the Iran-backed Shiite militia group in Iraq, CBS reports

The U.S. announcing a bounty on the leader of an Iran-backed militia in Iraq signals heightened tensions in the region, which could lead to increased volatility in oil markets and safe-haven assets like gold. This development may drive short-term fluctuations in currency markets, particularly in USD and its major pairs, as traders react to potential geopolitical risks and impacts on stability in the Middle East. Watch for implications on broader risk sentiment across markets as events unfold.