Pakistan’s ongoing cross-border campaign against alleged TTP and allied militant sanctuaries in Afghanistan continues to shape trader assessments of further military action. The September 18 Kohat suicide bombing, which killed 31 and was claimed by an IMP/TTP-linked alliance, prompted multiple rounds of Pakistani airstrikes through early October targeting sites in Kunar, Paktika, Helmand, and other eastern provinces. Pakistan’s military has described these calibrated strikes as self-defense under Operation Ghazab Lil-Haq, with the army chief stating on October 4 that targeted operations will persist while threats remain. Afghan authorities have reported civilian casualties and responded with drones and border fire, while prior Chinese-mediated pauses failed to halt the cycle. Escalation risks remain tied to TTP attack frequency inside Pakistan and Taliban responses along the Durand Line.