Strait of Hormuz Tensions Boost Dollar

The dollar maintained its stability close to its highest level in two months, benefiting from investors' flight to safe-haven assets amid increasing tensions between the United States and Iran, despite a temporary halt in fighting. The dollar index showed a slight decline of 0.06% to 99.95 points, while the euro and the British pound experienced limited gains. This came alongside a military escalation between the U.S. military and the Iranian Revolutionary Guard following retaliatory attacks around the Strait of Hormuz, although some analysts have indicated signs that the conflict may be de-escalating.

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