The dollar remains steady amid rising tensions and expectations of interest rate hikes

The US dollar remained stable against most major currencies amid rising regional and international tensions, which increased demand for safe-haven currencies. Fears of interest rate hikes grew due to rising oil prices, as crude prices reached high levels, leading to increased inflationary pressures and expectations that the Federal Reserve will continue raising interest rates. Meanwhile, the Japanese yen faced downward pressure due to the rise in oil prices and waning confidence in the currency, amid tensions with Iran and potential interventions by Japanese authorities.

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