US dollar exchange rate rises amid growing Middle East uncertainty
The US dollar edged higher on Friday, against both the Japanese yen and the euro, extending gains from the previous session as growing doubts over reaching a peace deal with Iran bolstered the greenback’s safe-haven appeal.
The dollar also gained additional support from rising US Treasury yields following a Financial Times report, which cited sources close to Federal Reserve Chairman Kevin Warsh hinting at the possibility of an interest rate hike in September, depending on upcoming economic data.
According to Reuters data, the dollar also recorded a slight gain against the British pound, rising to $1.
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