13.06.2025 10:42

Tensions in the Middle East dramatically escalated overnight, bringing the region closer to a full-scale war, according to Commerzbank's FX analyst, Michael Pfister. The situation ignited after the United States withdrew embassy personnel from Iraq, coupled with widespread reports suggesting a potential Israeli attack on Iran. This volatile backdrop culminated in military strikes executed during the night.

Initial reports from various news outlets indicated the death of a prominent figure, the head of the Iranian Revolutionary Guard, along with several nuclear scientists. Israel's president issued a stark warning, vowing continued attacks until perceived threats were neutralized. Unsurprisingly, Iran pledged a strong retaliation. This escalating conflict immediately impacted global markets; crude oil prices surged as much as 13%, while traditional safe haven currencies, including the Swiss franc and the Japanese yen, experienced significant gains.

The unfolding events paint a picture of considerable uncertainty. Whether de-escalation or further conflict will prevail remains unclear. However, this latest development undeniably represents a serious intensification, bringing the specter of widespread war significantly closer. Furthermore, official statements hint at the possibility of additional attacks, keeping the situation highly precarious.

Pfister highlights the complex strategic calculations facing both sides. A failure by Iran to respond forcefully risks undermining its credibility, while Israel, having crossed a critical threshold, might feel emboldened to continue its actions. Until the threat of further escalation subsides, investment in safe haven assets is likely to persist, reflecting the heightened global uncertainty surrounding the situation. The analyst's comments were sourced from internet resources.