Dollar gains, buoyed by safe-haven demand amid rising geopolitical tensions
The U.S. dollar gained against major currencies, including the euro and yen, on Friday as markets sought safe-haven assets amid rising geopolitical tensions following the outbreak of an Israeli-Iranian conflict.
Israel launched a barrage of strikes across Iran on Friday, attacking nuclear facilities and missile factories and killing a swath of military commanders. Iran responded with an armada of drones against Israeli targets.
U.S. President Donald Trump, Israel's main ally, urged Iran to reach a deal on its nuclear program, suggesting that Tehran had brought the attack on itself by resisting a U.S. ultimatum in talks to restrict its uranium enrichment.
The dollar gained 0.62% to 144.36 against the Japanese yen and rose 0.39% to 0.813 against the Swiss franc , with the greenback on track to snap two straight sessions of losses against safe-haven currencies.
The dollar, however, is still poised for a weekly loss against both the yen and the franc, with markets worried about Trump's tariffs.
The euro was down 0.67% at $1.1505, on track to snap four straight sessions of gains. It is on track, however, for the second consecutive weekly gain against the dollar.
The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, rose 0.82% to 98.48, snapping two straight sessions of losses. It is still set for a second consecutive week of losses.
Gold prices jumped amid safe-haven demand. Spot gold rose 1.68% to $3,441.04 an ounce. Oil prices jumped 7% to multi-month highs, buoyed by the Israeli-Iran conflict. Brent rose 7% to $74.23 per barrel.
Source : Reuters
