Well, there were a few days there where it seemed like everyone was going to settle down and no one else would be killed.
I guess we were all naive. Israel appears to be striking Iran, and at this point the best we can hope for is minimal damage and little to no casualties. And then we hope again that Iran will not retaliate.
There are signs of a closure of Iranian airspace, but so far the markets are not panicking too much. This could change quickly once we see the scale and scope of the response.
WTI crude oil is up 2.4%, trading at $84.60.
In general, the goal here is to alleviate fear. It’s worked until now, but it works until it doesn’t.
This article was written by Adam Button at www.forexlive.com.
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