US Secretary of War Hegseth says US has just begun to fight in Iran and that Iran is wrong in its calculations if it thinks we can't continue the war

• Firepower used in Iran is to increase significantly.

The comments from US Secretary of War Hegseth indicate an escalation in military engagement in Iran, heightening geopolitical tensions. Given the increase in firepower, we can expect potential impacts on energy prices, especially oil, as markets react to a riskier environment. This could also affect the USD, with a stronger dollar expected in times of geopolitical uncertainty as investors typically seek safe-haven currencies.