Dollar and Swiss Franc Rise as Iran Conflict Spurs Oil Price Surge and Market Uncertainty

Following a U.S. and Israeli airstrike that killed Iran's supreme leader Ayatollah Ali Khamenei, investors sought safe havens as fears of a prolonged Middle East conflict grew. The dollar and Swiss franc strengthened, while the euro, sterling, Australian dollar, yen, and China's yuan weakened amid rising oil prices, which surged nearly 9% due to concerns over disrupted seaborne trade through the Strait of Hormuz. Iran retaliated with attacks on oil tankers, escalating regional tensions and uncertainty.