Dollar firms as US-Iran hostilities flare, yen steadied by intervention risk

The dollar started Friday’s Asian session on a firm footing against most major currencies after renewed hostilities broke out between the US and Iran, while the Japanese yen ​held largely steady following fresh verbal jawboning from Tokyo. The US and Iran exchanged fire and traded ‌barbs again on Thursday, piling fresh pressure on a fragile month-long ceasefire as Iran reviews Washington’s proposal to end the war. Oil prices jumped, with US crude futures rising as much as 3% in early trading, adding to the risk-off mood in currency ​markets. The dollar index measured against key peers was a touch firmer at 98.235. The rising tensions ​lifted the greenback for a second day from an over two-month low struck ⁠early in the week on hopes of a peace deal, putting it on track to finish the ​week largely flat.