Switch to seedless. Get 30% off with SWITCH30 till Oct 26Trump pauses Iran attack plans before midterms, markets react
6.7 Macro Trump paused US attack plans on Iran before midterms, citing talks and ongoing blockade. Markets reacted positively, but pressure on Iran remains and no permanent deal has been reached.
Donald Trump announced that the United States will not attack Iran before the November 3 midterm elections, emphasizing ongoing productive discussions with Iranian officials. He reaffirmed that the blockade against Iran remains fully effective and reiterated that Iran will not be allowed to obtain nuclear weapons. Trump described Iran as facing significant economic and military challenges. He also noted that oil shipments through the Strait of Hormuz have reached record levels, with 22 million barrels passing through in one night—none originating from or destined for Iran. The announcement led to a slight relief in the Japanese yen and a pause in the dollar's advance, as markets responded to the reduced risk of immediate escalation in the Middle East. Despite this temporary pause in military action, economic pressure on Iran continues, and no permanent ceasefire or diplomatic agreement has been reached. Public support for military action has declined, leaving the situation unresolved beyond the election period.
