Forex Today: US Dollar holds safe-haven bid as Middle East tensions escalate

The US Dollar (USD) is drawing safe-haven support amid sharply escalating tensions in the Middle East, prompting renewed investor concern.

US Dollar Index rallies toward 100.00 as Iran conflict drives safe-haven flows

The DXY jumped about 0.55% on Tuesday, rallying to around 99.09 and extending Monday's sharp move higher.

USD/CAD slips as surging crude oil lifts the Canadian Dollar

USD/CAD slips about 0.10% on Tuesday, settling near 1.3660 in a thin daily change after Monday's broader US Dollar (USD) bid failed to carry through. The pair has been trending lower since the January highs close to 1.3930, carving out a series of lower highs and lower lows.

USD/JPY rises as US Dollar gains amid Iran conflict

USD/JPY trades higher on Tuesday as broad-based US Dollar (USD) strength weighs on the Japanese Yen (JPY). At the time of writing, the pair is hovering around 157.77, its highest level since January 23.

Gold slumps over 4% as US yields surge on Middle East escalation

Gold (XAU/USD) drops more than 4% on Tuesday as high US Treasury yields weighed on the yellow metal, which usually works as a hedge amid global geopolitical uncertainty and conflicts.