Middle East violence boosts US dollar
NEWS ANALYSIS
The greenback surged to its highest level in three months versus the yen and euro. Much of this strength was caused by cautious investors worried about the escalation in hostilities shifting into dollar-denominated assets such as gold, oil and US Treasury bonds, according to analysts.
The dollar strengthened 0.5% to trade as high as 117.18 against the yen – the highest since April 21 – and stayed above 117 all last week. It also touched $1.2544 against the euro from ($1.2652). It had fallen to $1
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