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View all search resultsThe United States is facing a shortfall in ammunition as a result of its war against Iran, the Defense Department's inspector general confirmed Monday, contrasting with President Donald Trump's assertions of full stocks.
The developments are likely to deepen the Middle East war's impact on international commerce as Saudi Arabia shut down an oil pipeline following attacks, and after months of Iran's blockade of the Strait of Hormuz.
The yen strengthened towards the nearly seven-month high touched against the dollar on Tuesday as traders exited short positions in the Japanese currency amid expectations for faster Bank of Japan interest rate hikes and a potential rush of repatriation of Japanese capital.
Iran threatened the United States with "economic warfare" on Tuesday and said it had fired an advanced missile at US warships, underscoring the risks of further escalation in the war only days after both sides traded blows again.
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