Dollar Rises on Korean Conflict & Portugal’s Bailout Concerns

The US dollar advanced today as the concerns that the conflict between North and South Korea would escalate increased the demand for the currency as the safe haven.
The US aircraft carrier was sent as the show of strength after North Korea shelled this week the South Korean island. North Korea warned that any “escalated confrontation” would result in a war. The dollar also strengthened against the euro as the European Union’s leaders pressure Portugal to accept the bailout.
EUR/USD fell from 1.3362 to 1.3241 as of 12:36 GMT today after it reached the intraday low of 1.3200.

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