USD/JPY flows: Trump and Iran

  However, this is likely a show of force to get concessions from the regime in Iran, with military attacks on Iran now unlikely. An attack could cause a spike higher in oil prices, which would hurt Trump desire for lower gasoline prices. U.S. voters and the new defense strategy also do not put a high ranking on Iran.  Iran will likely be willing to give Trump some modest political victories, but not a road to regime change or widespread freedoms.  Trump could end up claiming victory on his PR terms.