The US dollar edged higher on Friday, against both the Japanese yen and the euro, extending gains from the previous session as growing doubts over reaching a peace deal with Iran bolstered the greenback’s safe-haven appeal.
The dollar also gained additional support from rising US Treasury yields following a Financial Times report, which cited sources close to Federal Reserve Chairman Kevin Warsh hinting at the possibility of an interest rate hike in September, depending on upcoming economic data.
During Asian trading early Friday morning, the US dollar rose to 158.505 yen after posting a 0.4 percent gain on Thursday, putting it on track for a weekly gain of approximately 0.7 percent.
This comes after rebounding from a sharp drop triggered by a joint intervention by Japan and the United States in the foreign exchange market, which had pushed the dollar down from a near four-decade high of over 163 yen to a 13-week low of 155.20 yen on Monday.
Against the euro today, the dollar posted modest gains, trading at $1.1521 per euro after advancing roughly 0.3 percent in the prior session.
According to Reuters data, the dollar also recorded a slight gain against the British pound, rising to $1.3449.
Conversely, the Australian dollar saw a minor decline to $0.7029, while the New Zealand dollar dropped slightly to $0.5866.
