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Risk sentiment was fragile as Israel said it had called up an unprecedented 300,000 reservists and warned residents of parts of the Gaza Strip to leave, in the latest signs it could be planning a ground assault to defeat Hamas.
The sharp move lower suggested the Bank of Japan had intervened in the market to keep the yen from falling further
U.S. Treasuries stabilized after their recent heavy selloff, though yields remained near 16-year peaks, keeping the greenback solidly bid. Still strong U.S. economic data has defied investor expectations for a slowdown and the Federal Reserve last week warned that it could raise interest rates again and is likely to hold rates higher for longer.
The dollar index was last up 0.5% at 105.18, just off the 105.31 level hit earlier in the day, its highest since March 10
The dollar index's weekly winning streak would be its longest since 2014, bolstered by recent reports showing the U.S. economy remains resilient.