Dollar Surges Amid Iran Tensions, Await US Jobs Data

The US dollar strengthened on Friday as traders awaited the release of August's nonfarm payrolls report, which could provide clues on the Federal Reserve's interest rate path.

Despite being little changed on the day, the dollar was headed for a weekly gain against major peers due to uncertainty about an Iran peace deal and its impact on safe-haven appeal.

A proposed deal between Iran and Oman has raised concerns that Tehran may gain control over inbound traffic through the Strait of Hormuz, which would be detrimental to US interests. This news sent oil prices higher by 0.8% to $83.2 per barrel.