Yen, euro under pressure as Middle East conflict stokes energy concerns [Yahoo! Finance]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: Yahoo! Finance
attention on countries dependent on energy imports and ?how central banks may respond to inflation pressures. The dollar benefited from safe-haven demand as the ?U.S. and Israeli air war against Iran spilled out into neighboring countries. The euro steadied after sliding more than 1% as ?doubts swirled about when oil shipments from the region will be restored. Japanese Finance Minister Satsuki Katayama suggested that currency market intervention remains an option to defend the yen, and a speech by Bank of Japan Kazuo Ueda later in the day will be closely watched for signals on future rate hikes. "Europe and Japan stand out within ?the major economies, in that they ?still have a great need to import energy," Rodrigo Catril, a currency strategist at National Australia Bank, said on a podcast. "History will tell you that currencies such ?as the yen and the euro would struggle to perform." The dollar index, which measures the greenback against a basket of currencies, traded at 98.
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