Dollar Surges Amid Economic Data and Geopolitical Tensions

The U.S. dollar climbed to a six-week peak driven by robust economic performance and geopolitical concerns. Economic data highlighted U.S. service sector growth and a slight rise in jobless claims, influenced by external disruptions. The geopolitical climate also buoyed the dollar, affecting currencies globally.

The U.S. dollar surged to a six-week high, prompting analysis of the country's strong economic indicators amidst global tensions. Thursday's economic data unveiled a jump in U.S. services sector activity, contrasted by a minor increase in unemployment claims.

Geopolitical volatility, including rising Middle East tensions, has bolstered the greenback as a reliable safe haven. This financial landscape led to heightened currency fluctuations worldwide while the prospect of Federal Reserve's actions remains under scrutiny.

Currency markets reacted with the euro, sterling, and yen showing declines, highlighting the dollar's relative strength in these uncertain times. Meanwhile, oil prices edged up and logistics disruptions further complicated the economic backdrop.

(With inputs from agencies.)