Asian currencies consolidate as oil prices support dollar amid Iran risks

  • Asian currencies consolidated against the dollar in Asian trading.
  • 0.1% lifted the dollar to 1,360.09 won, while it fell to 157.86 yen.
  • Higher crude prices and geopolitical risks supported the dollar, CBA said.

Asian currencies consolidated against the dollar as higher oil prices threatened to weigh on economies that import net energy in the region. CBA international economist and currency strategist Samara Hammoud said stronger crude prices, amid ongoing geopolitical risks, had supported the dollar. She cited a U.S. official who said the Pentagon may soon deploy an additional aircraft carrier and 10,000 sailors and Marines to the Persian Gulf, giving U.S. commanders more options if President Trump chooses to escalate attacks on Iran. The dollar rose 0.1% to 1,360.09 won but fell 0.1% to 157.86 yen, according to LSEG data.

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Asian currencies consolidate as oil prices support dollar amid Iran risks - CoinPost Terminal