The upgraded travel warning comes after Iran retaliated against an Israeli attack — part of an operation that will last "as many days as it takes", to end what Israel says is Iran's nuclear threat.

Foreign Minister Penny Wong says Australia is "alarmed" by the escalation in tensions between Israel and Iran.

The Australian Dollar (AUD) declines against the US Dollar (USD) on Friday, with over 1% losses. The AUD/USD pair depreciates due to escalating tensions in the Middle East.

Australia’s peak education union is calling for national guidelines to help educators navigate classroom discussions about the war in Gaza, warning that students are becoming increasingly distressed by the ongoing conflict.

The Australian sharemarket fell slightly during Friday’s trading as fears of the fallout between Israel and Iran resulted in a broad sell-off on the market and investors rush to safe havens including gold.

Scientists and military chiefs linked to Iran's bid for nuclear weapons are the only victims so far named after lethal air strikes by Israel.

Global oil prices have spiked as tensions continue to escalate in the Middle East in the wake of Israel launching multiple strikes on Iran, and AMP's chief economist Shane Oliver has warned Australians could see costs rise at the petrol pump.

Trump had good reason to try to constrain Netanyahu while nuclear talks with Iran proceeded, but Israel decided instead to try to behead the ‘octopus’.

LONDON (Reuters) -The pound fell on Friday, in sync with other volatile currencies such as the Australian dollar, after Israel launched a flurry of strikes on Iran, sending investors scurrying into the relative safety of the dollar.

The Coalition is questioning if the Albanese government sanctioning two senior Israeli ministers prompted the Trump administration’s AUKUS review.