NEW YORK ( TheStreet) -- Political strife in the Middle East and North Africa weighed on the dollar Thursday morning.
"The dollar is slightly weaker against the yen and the Swiss franc as tension in the Middle East and North Africa is helping boost safe haven assets," Marc Chandler, global head of currency strategy at Brown Brothers Harriman said in a morning note.
Inspired by the ouster of long-reigning presidents in Egypt and Tunisia, unrest has spread across the Middle East and North Africa, as the masses take to the streets amid rising food and oil costs.The Swiss Franc and gold were both gaining ground on their safe-haven attributes. The U.S. dollar was slipping 1% against the Swiss franc at CHF0.9496. The spot gold price was up 0.4% to $1,381 an ounce. Meanwhile, the UK pound regained strength against the U.S. dollar, rising 0.2% at $1.613.