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Dollar falls as oil holds steady amid Iran war prospects
Oil prices stabilized amid anticipation of escalating tensions between the United States and Iran and their impact on navigation in the Strait of Hormuz, with Brent crude rising to $91.87. The US expects the tensions to continue despite President Trump’s announcement of no negotiations with Tehran. Meanwhile, the US dollar’s value declined against major currencies, nearing its lowest level in three months, amid measures by the US Treasury to support the bond market and growing concerns about inflation and its potential effects on long-term interest rates.
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