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Currencies: The dollar and other safe havens are rising

13/06/2025
Categories: Economy/Forex

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The US dollar rose alongside the Japanese yen and the Swiss franc, safe havens, as the foreign exchange markets abruptly changed direction on the news that Israel had launched strikes against Iran.

Against the yen, the dollar fell by 0.35% to 143 for one dollar, while the Swiss franc fell by 0.39% to 0.807 for one dollar.

The index that measures the dollar against six other currencies gained 0.4% and was at 98.07 at the start of trading in Asia.

Aussie fell 0.9% to $0.6474, after rising 0.5% overnight to $0.6534. The currency was already showing signs of fatigue as it failed to break through a key resistance level of $0.6550 overnight, even as the greenback slipped due to another series of weak data

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The New Zealand dollar fell 1% to $0.6011. It gained 0.7 percent overnight, reaching a high of $0.6071

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The spot yuan opened at 7.1799 per dollar and was last traded at 7.1767 at 02:53 GMT, 52 pips less than the close of the previous trading session.

The spot yuan is allowed to trade at 2% on either side of the fixed midpoint each day.

The offshore yuan traded at 7.1794 yuan to the dollar, down by about 0.09% in Asian trade.

The ruble appreciated against the dollar on Friday, supported by a sharp rise in oil prices, Russia's main export, after Israel launched major strikes against Iran. The ruble gained 0.6% to $79.50 per dollar, according to LSEG data based on over-the-counter quotes. Against the Chinese yuan, the most traded foreign currency in Russia, the ruble strengthened by 0.3% to 10.92 on the Moscow Stock Exchange. The central bank uses the yuan for its foreign exchange interventions.

At 06:49 GMT, the shilling traded at 128.90/129.40 per dollar, compared to Thursday's closing rate of 128.95/129.45.

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