Asian currencies consolidated against the U.S. dollar in early trade as renewed Middle East tensions pushed oil prices higher and encouraged risk-off sentiment. The dollar was little changed at 159.70 yen and 0.1% higher at 1,367.90 won, while the Australian dollar rose 0.1% to US$0.7174, according to LSEG data. NAB senior FX strategist Rodrigo Catril said the United States had struck Iranian rocket launchers on Larak Island, followed by Iranian retaliation against bases hosting U.S. forces in Jordan and additional incidents around the United Arab Emirates and the Strait of Hormuz. The developments add to safe-haven demand for the dollar and risks for currencies exposed to higher energy costs. The updated market moves follow an earlier won-dollar rate of 1,368.3 won per dollar on September 1, down 0.3 won, or 0.02%, from the prior close. Forecasts had pointed toward 1,370 won after the rate reached around 1,360 won in the previous session, its first move to that level in 13 months. Oil prices had also climbed on August 31, with WTI crude rising 2.83% to $85.76 a barrel and Brent crude increasing 2.71% to $90.49. U.S. equities weakened, with the S&P 500 down 0.33% and the Nasdaq Composite off 0.12%.