Dollar Reacts as Tensions Rise
The dollar gauge gained as worsening tensions between Israel and Iran boosted oil prices and dampened risk appetite. The yen slipped.
The Bloomberg Dollar Spot Index edged up 0.1%, rising for a second session as investors weighed retaliatory strikes from Israel and Iran
The U.S.’s position as the world’s largest oil producer likely helped support the greenback, which gained against most of its Group of 10 peers early Monday in Asia
“The Israel-Iran conflict looks set to continue for weeks,” Jason Schenker, president of Prestige Economics, wrote in a note. “Dollar may be supported as a safe haven”
USD/JPY rose 0.3% to 144.53 ahead of Tuesday’s BOJ decision, where policymakers are expected to keep interest rates on hold, with more focus on future bond-buying plans
USD/CHF consolidated at 0.8112
EUR/USD was steady at 1.1547 after rising 1.3% last week
GBP/USD fell 0.1% to 1.3558
Source: Bloomberg