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The dollar gains versus the euro on conflict between Israel and the Palestinians

By Rana Gharib
09 Oct,2023
The dollar gains versus the euro on conflict between Israel and the Palestinians

On Monday, the greenback ticked up in value relative to the euro and the pound as military hostilities between Israel and the Palestinian Islamist organization Hamas sparked worries that the crisis would spread beyond of Gaza.

The latest indications that Israel may be preparing a land invasion to overthrow Hamas included its announcement that it had called up a record 300,000 reservists and a warning to inhabitants of certain areas of the Gaza Strip to leave. At the time, risk sentiment was shaky.

The dollar index that gauges the greenback versus its major pairs dropped by 0.35% to $1.0549.

The dollar gained support as Friday's statistics showed that U.S. employment rose for the first time in eight months in September, possibly paving the way for Thursday's higher-than-anticipated inflation reading.

EUR/USD fell 0.2% to $1.0565.

GBP/USD dipped 0.19% to 1.2209

USD/JPY advanced by 0.28% to 148.89 per dollar. Japan was off for a holiday.

 

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