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Asia mid-session: Geopolitical tensions spark risk-off moves

Geopolitical tensions surged after US President Trump authorized airstrikes on Iranian nuclear sites, reversing his earlier call for diplomacy. Risk-off sentiment hit Asian markets, with major indices in decline and US futures lower. The US dollar firmed slightly, while WTI crude trimmed gains and gold slipped back to key support. Investors brace for increased volatility amid rising Middle East conflict fears.

23-06-2025 06:21 GMT by Kelvin Wong

Asia mid-session: US dollar retreats after Trump's “TACO” on Iran, US stock indices brace for “Triple Witching”

Global markets swung sharply as Trump delayed a strike on Iran, offering a two-week diplomatic window. Despite the shift, Israel-Iran hostilities persisted, with rising civilian risks. The US dollar retreated post-FOMC, ignoring dovish BoE and SNB moves. WTI held firm above US$74, while gold dipped near US$3,350 support. Mixed Asian equities and looming US “Triple Witching” may spark fresh volatility.

20-06-2025 07:41 GMT by Kelvin Wong