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Dollar holds near one-week high amid war fears
The US dollar remained near its highest weekly levels, amid ongoing concerns over escalating tensions in the Middle East and the potential for disruptions in energy supplies, which has increased demand for the currency as a safe haven. Meanwhile, oil prices experienced sharp fluctuations, rising to a six-week high before retreating, amid the Saudi-led maritime blockade imposed by the Houthis and Iran receiving a ceasefire proposal from mediators, reflecting uncertainty in global markets. U.S. Treasury yields also rose, with markets continuing to monitor military and diplomatic developments in the region, while gold continued to rise as demand for it as a safe haven increased.
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