US EditionSafe haven Japanese yen and Swiss franc gain after weekend Iran strikes
Safe-haven currencies strengthened as oil prices rose about 10%, while Gulf equities fell and Kuwait’s market suspended trading amid fears of regional conflict.
- On March 1, markets reopened and the safe-haven Swiss franc and Japanese yen firmed after U.S. and Israeli strikes and Iranian retaliation against Iran.
- Concerns about the Strait of Hormuz sent Brent crude oil trading 8 per cent-10 per cent higher at around $80 per barrel on Sunday, raising fears about about 20 per cent of global oil supply.
- Sector moves were clear as the Nikkei 225 fell 1.3% to 58,057.24, with airlines and financials declining and energy explorers climbing.
- Trading disruptions included most Gulf equities falling and Boursa Kuwait suspending trading, while =JBTC eased 5 basis points to 2.06%, reflecting flight-to-safety bond yields.
- Looking ahead, Samy Chaar said `We believe that the first case is playing out right now`, with a 10% oil rise potentially reducing Topix profits by about 1% to 2%.
14 Articles
14 Articles
Safe haven Japanese yen and Swiss franc gain after weekend Iran strikes
LONDON, March 1 : The safe-haven Swiss franc and Japanese yen firmed, while the euro slid as trading resumed after a weekend that saw the United States and Israel launch their most ambitious attacks on Iran in decades, killing Supreme Leader Ayatollah Ali Khamenei.The euro dropped 0.34 per cent to $1.1776 com
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Gold and Silver Prices in India Surge at Market Close on March 2, 2026Gold and silver prices in India ended higher on March 2, 2026, following sharp intraday gains driven by escalating geopolitical tensions in the Middle East. MCX gold surged over 4% to near ₹1,69,000 per 10 grams, while silver jumped around 3-4% amid safe-haven buying and a weaker rupee. This marked a rebound from recent consolidation, influenced by global bullion cues.Market C…
Refuelling in Switzerland is likely to become more expensive. Image: KEYSTONEAn escalation in the Iran conflict is likely to hit Switzerland above all through energy prices and the global economy.Although the appreciation of the Swiss franc will dampen inflation in the short term, it will burden the export economy and make monetary policy more difficult, said KOF Institute Director Jan-Egbert Sturm in an interview.The Swiss franc has strongly va…
The Swiss franc and the Japanese yen, both classic flight currencies, have increased at the beginning of the week.
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