A fresh wave of conflict in the Middle East has reinstated the US dollar’s status as the ultimate safe-haven asset, with investors flocking to the world’s reserve currencyamid growing fears of an escalation between the United States and Iran.
The greenback surged against its major peers, with the US Dollar Index against a basket of currencies climbing 0.3 per cent to 97.91. The Australian dollar led risk-sensitive currencies lower, falling as much as 1 per cent to US70.48¢ before reversing those losses to hover around US70.84¢.
