Dollar gains on safe-haven demand after US-Iran talks collapse

The US dollar strengthened against major currencies in late Sunday trading, as investors moved toward safer assets after extended negotiations between Washington and Tehran ended without a peace agreement, extending uncertainty in global markets for a seventh consecutive week.

Demand for the dollar, often seen as a safe haven due to the United States’ relatively low exposure to imported energy price shocks, picked up further as Asian markets opened.

The euro slipped 0.53% to $1.1663, while the dollar edged up 0.1% against the Japanese yen to trade at 159.43.