Market Turmoil as Dollar Strengthens Amid Geopolitical Tensions

The yen fell to its lowest in nearly two months as the dollar surged following strong U.S. jobs data and rising Middle East tensions. The U.S. economy's resilience was highlighted by employment gains, while geopolitical developments kept markets on edge. Treasury yields rose, reflecting changes in Federal Reserve rate cut expectations.

Japan's yen experienced a decline to its lowest level in nearly two months as the dollar continued its upward trajectory. This follows the release of robust U.S. jobs data and escalating tensions in the Middle East.

The yen dropped marginally to 149.10, marking a significant fall of over 4% last week, its steepest weekly percentage decline since 2009. The rise in the dollar came after the U.S. jobs report revealed the most considerable increase in employment in six months, a reduced unemployment rate, and wage growth, suggesting a resilient economy.

As developments unfolded in the Middle East, Israel bombed Hezbollah targets, further contributing to market unease, while oil prices and treasury yields fluctuated amid these geopolitical uncertainties.

(With inputs from agencies.)