USD Strengthens as Iran-Israel Tensions Drive Safe-Haven Flows
The US Dollar is gaining strength across major pairs as escalating tensions between Iran and Israel trigger risk-off sentiment in global markets. USD/JPY has climbed 0.5% to 155.80, while EUR/USD dropped 0.4% to 1.0520, as traders seek safe-haven assets amid Middle East uncertainties. Crude oil prices have surged 3.2% to $85.40 per barrel, adding inflationary pressure that could influence Federal Reserve policy decisions. Gold has rallied 1.8% to $2,380 per ounce, confirming the defensive market positioning. Asian equity markets posted significant declines, with the Nikkei down 2.1% and Hang Seng falling 1.8%. Technical indicators show USD/JPY approaching resistance at 156.00, while EUR/USD tests support at 1.0500. The heightened geopolitical risk premium is expected to maintain dollar strength in the near term, particularly against risk-sensitive currencies.
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