Dollar index lifted by safe haven demand as US strike on Iran infuses tension

The dollar index is gaining ground on Monday morning in Asia amid safe haven demand following US airstrikes on three Iranian nuclear facilities over the weekend. The US reportedly attacked three key Iranian nuclear facilities over the weekend, marking Americas official entry into the renewed Israel-Iran conflict. Investors were now watching for how Tehran will respond to the attack. The upside in dollar also stands supported by Fed decision to leave interest rates unchanged last week. The dollar index that measures the greenback against a basket of currencies is up 0.37% at 98.65. Focus this week will be on the US personal consumption expenditures price index, the Federal Reserves preferred inflation gauge, S&P flash US PMIs in addition to US Fed Chair Jerome Powells testimony. Among basket currencies, EURUSD and GBPUSD are trading lower by around 0.34% at $1.1556 and $1.3421 respectively.

 

Powered by Capital Market - Live News