Dollar set for weekly rise amid Iran peace doubts
Expectations of an increase in U.S. interest rates in September are contributing to a weekly rise in the dollar, amid doubts about reaching a peace agreement with Iran and rising Treasury bond yields. This has boosted demand for the U.S. dollar as a safe haven, especially with reports indicating a decreased likelihood of reaching an agreement to reopen the Strait of Hormuz. The dollar also gained against the yen, euro, and British pound, while oil prices rose to levels approaching $83.80 per barrel.
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