The US dollar remained close to a six-week high on Friday following volatile trading driven by mixed signals surrounding negotiations between the United States and Iran, as investors looked for signs of progress toward a possible agreement.
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Markets reacted to conflicting developments after Washington and Tehran maintained differing positions on key issues, including Iran’s uranium stockpile and control of the Strait of Hormuz.
However, Marco Rubio said there had been “some good signs” in ongoing discussions, raising cautious hopes among investors.
The dollar index rose slightly to 99.24, remaining near Thursday’s peak of 99.515, its highest level since early April.
The euro slipped marginally to $1.1613, while the British pound traded at $1.3431. Sterling was still on track for weekly gains after suffering losses during the previous week amid political uncertainty in Britain.
Support for the dollar also came from economic data showing lower US jobless claims and stronger manufacturing activity, highlighting continued resilience in the American economy.
Asian currencies also remained under pressure, with the Japanese yen weakening beyond 159 per dollar amid concerns over elevated oil prices and possible intervention measures by Tokyo authorities.
Meanwhile, emerging Asian currencies faced additional stress from global energy market volatility, prompting some governments to consider measures aimed at stabilizing their economies and currencies.
Investors continue to closely monitor developments in US-Iran diplomacy and broader geopolitical conditions that could influence financial markets in the coming days.
