Dollar Strengthens Amid Middle East Uncertainty

The US dollar strengthened on Friday against several major currencies, driven by growing uncertainty in the Middle East and rising US Treasury yields.

According to Reuters data, the dollar rose to 158.505 yen after a 0.4 percent gain on Thursday, putting it on track for a weekly gain of approximately 0.7 percent.

This comes after the dollar rebounded from a sharp drop triggered by a joint intervention by Japan and the United States in the foreign exchange market, which pushed the dollar down from a near four-decade high of over 163 yen to a 13-week low of 155.20 yen on Monday.