US to impose major new sanctions on Iran - BBG

Bloomberg has reported that President Donald Trump said the U.S. will impose major new sanctions on Iran on Monday.

President Donald Trump said the U.S. will impose major new sanctions on Iran Monday. days after he abruptly called off a plan for airstrikes against the Islamic Republic after Iran shot down a U.S. Navy drone.

The sanctions move, announced on Twitter with no additional detail, came as Trump spent the day at the Camp David presidential retreat having meetings and phone calls. The president foreshadowed the sanctions action earlier, in remarks at the White House.

FX implications

The safe-havens, such as CHF, Yen and gold, will likely find support on such geopolitical risk. 

• Gold regains positive traction, bulls eyeing a sustained move beyond $1400 mark