Dollar gains as oil prices rise from Middle East events
The dollar's price rose amid ongoing tensions in the Middle East and the expansion of the conflict, leading to an increase in oil prices, with Brent crude reaching its highest level since June 11 at $90.90 per barrel. Disruptions to shipping routes through major energy corridors and growing inflation concerns boosted the dollar’s gains, which marked its fourth consecutive session increase, with the index rising by 0.17% to 101.16. Meanwhile, oil prices climbed by more than 1.88%, while the British pound and yen declined, amid expectations of a possible extension of the ceasefire between the parties and ongoing diplomatic efforts.
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