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Dollar gains as pound falls amid tensions
The value of the US dollar rose today, Monday, supported by investors' anticipation of developments in the US-Iran conflict and the expanding threats in the Middle East. Meanwhile, the British pound declined ahead of Andy Burnham's assumption of the UK Prime Ministership. These movements occurred amid market concerns over a naval blockade imposed by the Houthis on Saudi Arabia, raising fears about energy supplies and global trade, despite efforts to ease tensions through signals of diplomatic rapprochement. The dollar index increased by 0.17% to reach 100.91 points, while the euro fell by 0.23% to close at $1.1413. The pound decreased slightly by 0.04% to $1.3448, as markets awaited the appointment of the new Treasury Secretary and its impact on market confidence. Additionally, markets expect an imminent interest rate hike by the Federal Reserve, though predictions remain varied, and Europe is closely watching the European Central Bank's decision this week.
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