Investors Look To Yen After Iraq Attacks – 2 January, 2020
Unfolding tensions in the Middle East caused by U.S. air strikes on an airport in Baghdad caused oil prices to rise and the dollar and euro to slip against the safe haven yen. The dollar fell 0.4% to 108.14 yen, while the euro fell to a three week low to 120.63 yen. The Pentagon confirmed that the attacks killed Iraqi militia commander Abu Mahdi al-Muhandis and Major-General Qassem Soleimani who were actively planning attacks on Americans in the Middle East. The dollar index dipped to 96.770 against a basket of major currencies, just above a six month low of 96.355. Sterling last stood at $1.3135 and the euro was at $1.1171.