Sterling dropped 0.7% at $1.321 after a day of optimism that the war could be ending, but the fall was largely due to a surge in the dollar, seen as a safe-haven asset. In a televised address, President Donald Trump stated that military operations would be intensified in the next two to three weeks and there was no clear timeline for ending the conflict. Oil prices also surged after the announcement, leading to a 6.6% increase in Brent crude oil prices.