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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV