The US dollar exchange rate has risen to a weekly maximum against major currencies. However, it later partially retreated against the backdrop of rising tensions between the US and Iran, as well as fading hopes for a peaceful resolution to the conflict in the Middle East.
“Elchi” reports that this has prompted investors to turn to safer assets.
The dollar index, which reflects the exchange rate of the US currency against six other currencies, rose to 98.30, approaching its weekly maximum and partially compensating for previous losses.
The euro fell to a weekly minimum of 1.1729 dollars, then traded at 1.1757 dollars. The British pound fell by 0.11% to 1.3503 dollars, and the Australian dollar retreated by 0.27% to 0.7148 dollars.
Recall that yesterday, the US announced the seizure of an Iranian cargo ship attempting to break the blockade. Iran, in turn, stated that it is ready to respond to Washington’s actions.