The US and UK forces carried out attacks against multiple Houthi targets in Houthi-controlled regions of Yemen on Thursday, according to CNN.

The strikes are a significant reaction after the Biden administration and its allies warned the Houthi that the consequences of repeated drone and missile attacks on commercial ships in the Red Sea would fall on them. 

US military forces, together with the United Kingdom and with support from Australia, Bahrain, Canada, and the Netherlands, successfully conducted strikes against several targets in Yemen used by Iran-backed Houthi rebels. US President Joe Biden said the United States will not hesitate to take more actions against Houthi targets in Yemen.

Market reaction

The Japanese Yen faces some follow-through buying following the geopolitical tension headline. At the time of writing, the USD/JPY is trading near 145.31, holding lower while losing 0.06% on the day.