The US dollar rose further on Friday, extending its weekly gains against major currencies as investors stayed cautious due to increasing geopolitical tensions in the Middle East.
With US financial markets closed for the Juneteenth holiday and limited economic data on the calendar, market participants focused on developments surrounding US-Iran relations and comments from central bank officials, News.Az reports, citing Invezz.
US-Iran talks called off
Risk sentiment deteriorated after Switzerland's Foreign Ministry announced that upcoming talks between the United States and Iran would not take place as scheduled.
No official explanation was provided by the US administration.
However, the cancellation came after US Vice President JD Vance reportedly scrapped a planned trip following Israel's attack in southern Lebanon.
Iran's semi-official Tasnim news agency reported that there was no confirmation that Iranian negotiators would travel for the talks.
The uncertainty surrounding the diplomatic process contributed to a risk-averse market environment, supporting demand for the US Dollar.
Dollar index reaches highest level
Following two consecutive days of gains, the US Dollar Index continued its upward momentum on Friday.
The index climbed above 101.10 during early trading, marking its highest level since May 2025.
At the time of reporting, the index was trading around 100.90, maintaining modest gains on the day.
With US stock and bond markets closed, currency markets remained particularly sensitive to geopolitical headlines and broader risk sentiment.
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