FOREX-Reports of Israeli attack on Iran spark rush to yen, Swiss franc [Yahoo! Finance]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance
sent investors chasing after traditional safety assets such as the Swiss franc and the yen following reports that Israel attacked Iran in an escalation of conflict in the Middle East. Three people familiar with the matter told Reuters that Israel attacked Iran, days after Iran launched a retaliatory drone strike on Israel. Iranian state media reported early on Friday that the country's forces had destroyed drones. Markets initially reacted sharply to the news, which sparked a huge selloff in risk assets, caused oil and gold prices to surge, and ignited a rally in U.S. Treasuries and safe-haven currencies. Some of those moves were later retraced as few details emerged about the attack and an Iranian official told Reuters no missile attack took place. Still, the Swiss franc, a traditional safe-haven currency, remained 0.35% higher on the day at 0.9089 per dollar, having rallied 1% earlier in the session. Moves in the Swissie were more pronounced against the euro, with the common
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