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Daily Market View 23-03-2026

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1:13

Trump power plant threats extend USD rally

1 Minute Market Rundown

Dollar index rallies 0.24% in the early hours of this morning on the back of Trump threats towards Iran's power plants
Such attacks, if they materialize, would represent an escalation in the conflict and a likely Iranian retaliation
Pound modestly recovers against the Euro after softening following BoE last week

USD -

Just when I anticipated that the conflict in Iran may be winding down, following a statement by Benjamin Netanyahu that Iran's nuclear enrichment capacity has been "totally destroyed". Mission accomplished right? Well, at least if we follow the aim of the invasion that was first stated.

Instead, what we got was a blast from President Trump on Truth Social, threatening to bomb Iranian power plants, starting with the biggest one first.

Of course, there are a number of these plants, 4 of which within Iran, one is nuclear, meaning that a strike on this area could have catastrophic consequences. So far, Trump's threats have been pretty unreliable, but the thought of misses flying around the Gulf into nuclear complexes certainly raises the ante.

USD manages to be the big winner of this so far, with the Dollar index firmly up at the start of what, on paper, is a rather dry week.

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