Arab Finance: The US dollar went up on Monday against major currencies amid rising tension in the Middle East, Reuters reported.

The hike was backed by safe-haven buying from investors fearing the Israel-Iran conflict, which raised broader economic risks from disruptions in the oil-rich region.

Win Thin, global head of markets strategy at Brown Brothers Harriman, stated: "The dollar's role as a safe haven will surely be tested, and recent price action has been inconclusive."

The official added: "If the Fed delivers a dovish hold as we expect, the dollar is likely to resume weakening due to the worsening fundamental backdrop in the U.S.”

On Monday, the dollar gained 0.14% to 144.3 Japanese yen, while the euro was 0.14% lower at $1.1534.

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