Dollar nears one-year high amid Gulf tensions

The U.S. dollar has risen, approaching its biggest monthly gain in nearly a year, supported by tensions in the Gulf region and rising U.S. Treasury yields, amid anticipation of upcoming U.S. employment data. This comes alongside an increase in oil prices due to slowed shipping traffic through the Strait of Hormuz and exchange of threats between the United States and Iran, which has strengthened the dollar's appeal as a safe-haven investment. The dollar index is on track to achieve approximately a 2.5% gain during June, while other currencies such as the euro and the British pound have declined, and the Japanese yen remains near its 40-year lows.

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