Dollar set for biggest weekly gain since April

The dollar held near a six-week high on Tuesday, set for its biggest weekly gain since April on safe-haven demand amid rising tensions in the Middle East.

Market activity is expected to be muted ahead of U.S. nonfarm payrolls data due later in the day, which could help shape the Federal Reserve’s interest rate outlook.

Data released on Tuesday showed the number of Americans filing new claims for unemployment benefits rose slightly last week.