Dollar gains as investors flee risk on escalating Middle East war [CNBC]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: CNBC
Ardasavasciogullari | Istock | Getty Images The dollar rose on Monday as escalating retaliatory threats in the Middle East conflict curbed risk appetite and lifted demand ?for safe-haven assets. The Australian dollar, a liquid proxy for global sentiment, slid as equities sold off across Asia. Japan's top currency diplomat said his government is ready to take ?action to counter foreign-exchange volatility as the yen ?edged lower. Hopes for an off-ramp ?to hostilities dimmed over the weekend, with U.S. President Donald Trump threatening to strike Iran's electricity grid and Tehran vowing to hit back at infrastructure of its neighbors. The head of the International Energy Agency (IEA) said the crisis is worse than the two oil shocks of the 1970s put together. “The market's going ?with ?the idea that those countries and economies that enjoy a positive supply shock ?from energy are likely to perform better than those that are suffering from a negative supply shock,” Rodrigo Catril
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