U.S. Dollar Gains Amid Middle East Conflict; Canadian Dollar Shows Resilience

The U.S. dollar is poised for its largest weekly gain in over a year amid escalating conflict between the U.S. and Iran, driving demand for safe-haven assets. While most major currencies weakened against the dollar, the Canadian dollar showed resilience due to its link to rising oil prices and proximity to the U.S. dollar. The conflict has increased inflation concerns in energy-importing economies and influenced expectations for Federal Reserve policy, with ongoing uncertainty over the war's progression.