U.S. dollar stabilizes on high treasury yields

Buoyed by the sudden spike in U.S. Treasury yields, which heightened investors’ risk appetite, the United States dollar gained strength against some of its major currency rivals on Friday. The dollar index settled at 89.758 .DXY after climbing 0.2% overnight ending a four-day losing streak. The euro settled at $1.2392 after losing 0.3% overnight. Against the safe-haven yen, the dollar was traded at 107.245 JPY=, which was 0.1% lower compared to previous settlement.

The positive stance of the U.S. dollar was the result of the sudden rise in treasury yields, which climbed to approximately 5 basis points on Thursday. In addition, the easing concerns towards geopolitical tensions in Syria also helped the dollar, as Donald Trump announced that a military strike on Syria may not be coming.

Prices of oil slightly fell but are set for their highest weekly gains since July

Prices of oil slightly fell on Friday, as tensions in the Middles East started to ease. However, records indicated that oil prices are set for their highest weekly gains since July last year. The tension in the Middle East and OPEC announcement on Thursday that global oil stocks surplus was decreasing due to healthy demand and the organization’s ongoing supply cuts made the black gold climb throughout the week.

The international benchmark, Brent crude futures, settled at $71.78 per barrel –  0.3%, or 23 cents, lower compared to their previous close. NYMEX crude for May delivery declined by 0.3% or 21 cents and settled at 66.86 per barrel.

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