Dollar poised for second weekly gain with no end in sight for Iran war [CNBC]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: CNBC
Simpleimages | Moment | Getty Images The dollar held gains on Friday and was set for its second weekly gain since the beginning of the war in Iran as turmoil in markets left it the last safe-haven standing. The euro traded near its weakest since November while the yen was at levels that put traders on guard for possible intervention by authorities in Japan. With oil prices surging, the U.S. permitted the sale of some Russian petroleum products that had been sanctioned due to Moscow's hostilities in Ukraine. Iran stepped up attacks on oil and transport facilities across the Middle East as its new Supreme Leader Mojtaba Khamenei vowed to keep the Strait of Hormuz shipping lane closed. “For the moment now, the market has got a new focus. It's not diversification, it's inflation, and it's lower growth,” Gavin Friend, senior markets strategist at National Australia Bank in London, said on a podcast. “It's the mix, the toxic mix, of higher inflation and lower growth that will come
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