Dollar Gains Momentum as Iran Deal Uncertainty Rises

The US dollar continued its upward trend on Friday, with traders attributing its strength to growing doubts about an Iran peace deal. This uncertainty has made the greenback more appealing as a safe-haven asset.

The dollar also received support from higher Treasury yields, which rose following a report that Federal Reserve Chair Kevin Warsh is open to a September interest rate hike if inflation data is strong.

Warsh had previously hinted at his commitment to bringing down inflation. The US nonfarm payrolls report, due later on Friday, will provide more clues about the Fed's rate path and its impact on the dollar.

The greenback edged up against both the yen and euro, with a slight increase in the Asian morning session. Brent crude prices also rose slightly, reaching $83.55 per barrel.