The U.S. dollar is recapturing its role as the primary safe-haven currency, eclipsing the yen and the Swiss franc as tensions in Korea and Europe escalate.

That re-emergence as the ultimate sanctuary for those fleeing risk will likely result in continued strength against its major rivals in the next few weeks, analysts expect.

"Recent events just reinforce the underlying message that during times of turmoil, almost no matter what the source, the U.S. dollar is seen as a safe harbor for investors," said Doug Porter, deputy chief economist at BMO Capital Markets in Toronto.

"Turmoil" will remain a dominant factor in coming sessions as investors confront three key sources of stress: the rolling sovereign debt crisis in Europe, the escalating military confrontation in Korea and the fear of further policy tightening in China.

Japan's proximity to Korea, which undermines the perceived safety of the yen, is clearly buttressing the dollar's safe-haven status.

But beyond the specifics of the current, multipronged retreat from risk is the dollar's unique position as the "home" currency for global investors. As the flight from risk intensifies, the more investors will push aside other issues and seek out the perceived safety and liquidity of U.S.-dollar assets.

"The dollar normally is the safe haven of choice when you're looking at financial crises," said Greg Anderson, senior foreign exchange strategist at CitiFx in New York.