Dollar shaken by rate outlook and Middle East tensions

The US dollar experienced fluctuations amid declining sentiments following increased US tensions with Iran after conducting airstrikes on Iranian targets, which led to oil prices rising by more than 2% and the dollar index dropping to 99.903. Meanwhile, the currency market remained relatively calm, with attention turning to the upcoming European Central Bank meeting to discuss raising interest rates to combat inflation, which reached its highest level in three years at 4.2%.

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