The US dollar rebounded from early losses on Friday as oil prices continued their decline and Asian markets weakened. Brent crude fell below $72 per barrel despite renewed US-Iran tensions.
Asian equity markets came under sharp selling pressure, with South Korea's Kospi triggering a second circuit breaker this week. The aggregate US dollar long position climbed by $5 billion to $34 billion in the week ending last Tuesday, matching peaks from January of the previous year.