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Dollar reaches two-month high on oil support
The US dollar rose to near its highest level in two months, supported by concerns over escalating tensions between the United States and Iran, which led to rising oil prices. This came amid the ongoing rejection by the American president of a deal to end the conflict with Iran, increasing risks to energy supplies and impacting inflation. Strong US economic data and rising Treasury yields also contributed to the dollar's gains, along with expectations that the Federal Reserve will maintain its hawkish monetary stance, with a potential rate hike again in October. The dollar index increased to around 101.12 points, up by 0.2%, while oil prices rose above $106 per barrel.
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