Risks get extra load as IAEA finds Iran secretly building Uranium, Britain readies clampdown beyond nuclear deal

Adding to the pre-Fed trading lull and vaccine jitters, not to forget fresh tension from North Korea and China, headlines concerning Iran’s secret nuclear build and the UK’s readiness to clamp it down beyond the deal also challenge the market sentiment amid early Wednesday morning in Asia.

“Iran has started enriching uranium at its underground Natanz plant with a second type of advanced centrifuge, the IR-4, the U.N. nuclear watchdog said in a report,” said Reuters.

As per Reuters, the International Atomic Energy Agency (IAEA) report recently said, “On 15 March 2021, the Agency verified that Iran began feeding the cascade of 174 IR-4 centrifuges already installed at FEP with natural UF6."  While giving details, the piece referred to uranium hexafluoride, the form in which uranium is fed into centrifuges for enrichment.

While Tehran’s nuke build is a global danger, UK policymakers are up for taking extra measures to safeguard the nation that’s already struggling with the pandemic and Brexit. In its latest report, published early Wednesday in Asia, The Sun signaled that British Foreign Secretary Dominic Raab admitted yesterday the Tehran regime kept him up at night with worry. The news also stated, “The Prime Minister (Boris Johnson) is plotting a major global clampdown on Iran beyond the current nuke deal”

Market implications

Although the news should weigh on the risks and offer extra strength to the oil benchmark, global markets paid a little heed to the catalysts as traders are more concerned with Wednesday’s Fed meeting.

Read: AUD/USD: Sluggish around mid-0.7700s amid pre-Fed caution, vaccine jitters