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Home NewsLatest News US Dollar, Swiss Franc & Japanese Yen Rise After Israel’s Attack on Iran

US Dollar, Swiss Franc & Japanese Yen Rise After Israel’s Attack on Iran

by bitcoinews.us


The US dollar bulldozed all local currencies this month after reaching a new high of 106.27 in the DXY charts. The sudden surge in value comes after global institutional investors flocked toward gold and the US dollar for financial safety. The conflict between Iran and Israel is making the markets worried as an escalation could make the equity markets crash. Therefore, top institutional investors have started moving their funds into the USD, gold assets, Japanese Yen, and the Swiss Franc.

Also Read: Exclusive: Analyst Explains Why Gold Prices Are Rallying in 2024

us dollar usd dxy index 106.27
Source: MarketWatch

All these four assets are attracting heavy buying sentiments in fear of a crash in the equity and commodity markets. The fears stem after crude oil prices briefly climbed above the 85 mark this week amid the Middle East tensions. Several financial experts predict that if the Iran and Israel conflict escalates, crude oil prices could reach $100 a barrel. This gives the US dollar an added advantage along with gold, as they’re considered safe investments during unexpected market corrections.

Also Read: Warren Buffett Earns $6 Billion From Dividends in 2024

Israel’s Attack on Iran Makes the US Dollar, Japanese Yen, Swiss Franc & Gold Prices Surge

us dollar japanese yen currency usd
Source: ABC News

Apart from the US dollar and gold, other leading currencies Japanese Yen and Swiss Franc as experiencing a buying spree. “It’s pretty obvious the market is nervous,” said Bank of Singapore currency strategist Moh Siong Sim to Channel New Asia.

Also Read: Where’s De-Dollarization? US Dollar Hammers Other Currencies in 2024

He explained that investors are cautious, as they know something bad has happened, but are worried about the gravity of the situation. “I think markets are at this stage in a flight-to-safety mode. Right now, we’re still in a situation where we know something has happened. But we need to understand the degree of retaliation,” Sim said.

The concerns about not knowing what to expect next are what made investors find a safe haven on the US dollar, gold, Japanese Yen, and Swiss Franc.



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