US officials say they do not rule out resuming fighting in Iran and that President Trump will not offer major concessions to Iran to open the Strait of Hormuz, adds Iran's insistence on controlling straight reformers could lead to a resumption of fighting

This headline highlights escalating tensions between the U.S. and Iran, hinting at potential military conflict which can significantly impact global markets, particularly oil prices given the strategic importance of the Strait of Hormuz. The suggestion that President Trump will not make major concessions indicates a potentially aggressive U.S. stance, likely leading to heightened volatility in energy commodities and impacting related currencies such as the JPY and GBP.