US Edition
Euro, Yen Slide as Middle East Conflict Escalates
Brent crude surged 7.6% as investors sought safety in the dollar and Swiss franc amid intensified U.S.-Israeli strikes and regional missile exchanges.
- On Monday, the U.S. dollar and Swiss franc rose as investors headed for safety after the U.S. and Israel bombed Iran.
- The widening U.S.-Israeli air war expanded on Monday with attacks on Lebanon, Gulf states, and a British air base, while Brent crude futures jumped as much as 13% to $78.64 per barrel.
- Among other moves, the dollar index rose 0.59% to 98.65, with the euro down 1.08% at $1.1686 and bitcoin gained 5.43% to $69,271.
- The Swiss National Bank said it was more willing to intervene after the franc surged, and markets pushed out the Fed rate cut to September.
- BoJ officials signalled that short-term Japanese government bond yields rose as inflation fears lifted expectations of an earlier rate hike, while Finance Minister Satsuki Katayama flagged intervention 'with an "extremely strong sense of urgency".
12 Articles
12 Articles
Times of India
Yen, euro under pressure as Middle East conflict stokes energy concerns
The yen and euro weakened Tuesday as the escalating Middle East conflict heightened concerns over energy import costs and central bank responses to inflation. The dollar strengthened due to safe-haven demand, while Japan and Europe face greater exposure to rising energy prices. Traders are now anticipating a later Federal Reserve rate cut.
Turbulent Markets: Impact of Middle East Conflicts on Global Currencies
The euro and yen weakened due to concerns over rising oil prices following Middle East tensions. The dollar strengthened as a safe-haven currency amid conflict and uncertainty in the region. Brent crude prices surged while the Fed's rate cut expectations were delayed. Cryptocurrencies like bitcoin showed gains.
The yen and euro both weakened against the dollar as the Middle East conflict intensified, as investors focused on the vulnerability of economies that rely on energy imports. The dollar strengthened as a safe-haven currency, Reuters reported.
While Ukrainians are practicing their ability to create memes on the topic of war in the Middle East, fuel is rising in Ukraine, the dollar is rising and the euro is falling. And these are the first consequences of a new war that has every chance of dragging on. Why the attack of the US and Israel on Iran led to the strengthening of the dollar and what is happening with oil, read in the material Espreso.Why the war in the Middle East is hitting …
"It's a typical movement of flight to safe haven values."The post-war Middle East: the dollar draws its pin from the game appeared first on Les Affaires.
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