Dollar gains as US-Israeli war on Iran sends oil prices soaring
CNA
NEW YORK, March 9 : The U.S. dollar rose broadly on Monday as surging oil prices, driven by the U.S.-Israeli war on Iran, pushed investors toward the safety of the greenback on fears a protracted conflict could disrupt global energy supplies and weigh on economic growth.The euro was last down 0.5 per cent to
NEW YORK, March 9 : The U.S. dollar rose broadly on Monday as surging oil prices, driven by the U.S.-Israeli war on Iran, pushed investors toward the safety of the greenback on fears a protracted conflict could disrupt global energy supplies and weigh on economic growth.
The euro was last down 0.5 per cent to $1.1564, after earlier touching a more than three-month low of $1.1505. The dollar was up 0.3 per cent against the Japanese yen to a six-week peak, while sterling was 0.5 per cent lower against the U.S. currency.
"Ultimately the U.S. dollar always plays well as a safe haven in a world of chaos," said Juan Perez, director of trading at Monex USA.
"It also tends to win when the United States shows any type of military strength," he said.
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