Oil exporter currencies held firm while the dollar found broad support as recent attacks on Saudi oil facilities and the threat of military action in the region kept crude prices elevated.
“Aside from big moves in oil prices, currencies and bonds are relatively calm, as investors are still trying to gauge the extent of political risks,” said Kyosuke Suzuki, director of forex at Societe Generale.
Attacks on crude facilities in Saudi Arabia on the weekend boosted oil prices by nearly 15 per cent on Monday, with international benchmark Brent logging its biggest jump in over 30 years. On Tuesday, prices pulled back slightly, but remained at lofty levels.
