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Dollar strengthens on US-Iran tensions
The currency markets experienced a slight increase in the dollar against most major currencies, amid escalating tensions in the Middle East and rising oil prices that exceeded $90, amid concerns of a potential military escalation between the United States and Iran. The dollar rose by 0.1% against the yen to reach 162.48 yen, the highest level since July 9, as investors shifted towards safe-haven assets, while the euro and British pound declined slightly. This highlights the intensifying geopolitical tensions and their impact on the global markets, with oil prices continuing to rise and political risks increasing in the region.
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