Tokyo: The dollar rose against most major currencies on Friday, while the Japanese yen remained largely stable following new signals from authorities in Tokyo. Oil prices jumped, with US crude futures rising 3% in early trading, further fueling risk aversion in currency markets.
According to Yemen News Agency, the dollar index, which measures the strength of the US currency against other major currencies, edged up slightly to 98.235. This increase in the dollar’s value reflects heightened market volatility as investors react to rising tensions in the Middle East.
The British pound traded at $1.3555, heading for its first weekly loss since March, suggesting a shift in market dynamics and investor sentiment. Meanwhile, the euro held steady at $1.1727 and is on track to end the week slightly higher, indicating relative stability amidst the currency fluctuations.
In the Pacific region, the Australian dollar was at $0.72059, and the New Zealand dollar traded at $0.59365, both poised for weekly gains. This trend is attributed to improved risk appetite in recent days, despite the broader market uncertainties.