US dollar strengthens as markets seek safe haven due to Middle E
The safe-haven US dollar rose in early European trading on Monday as escalating Middle East conflict weighed on risk aversion following this week's strong jobs report. in front.
As of 03:00 ET (07:00 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was trading 0.4% higher at 106.204.
Dollar demand soared on Monday after militants from the Palestinian organization Hamas carried out deadly attacks in several Israeli cities over the weekend. In response, Israeli airstrikes hit multiple targets in the Gaza Strip, making it the deadliest outbreak of violence in the country in 50 years. EUR/USD fell 0.4% to 1.0541 as the common currency took a big hit due to lower risk sentiment following the Israeli attack.
As of 03:00 ET (07:00 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was trading 0.4% higher at 106.204.
Dollar demand soared on Monday after militants from the Palestinian organization Hamas carried out deadly attacks in several Israeli cities over the weekend. In response, Israeli airstrikes hit multiple targets in the Gaza Strip, making it the deadliest outbreak of violence in the country in 50 years. EUR/USD fell 0.4% to 1.0541 as the common currency took a big hit due to lower risk sentiment following the Israeli attack.
