Commodities
Dollar Gains as Middle East Conflict Drives Oil Prices Higher
The US dollar rose across the board on Monday as conflict in the Middle East pushed up oil prices and sent investors towards the safe-haven currency.
Oil prices jumped by 3% to $108 a barrel, driven by Houthi strikes on Saudi Arabia, which is the world's biggest exporter of crude.
The US dollar index, which tracks the currency against six major peers, was last up almost 0.6%, its highest since September 2.
Currency strategists expect the Federal Reserve to hike interest rates on Wednesday in response to the jump in energy prices, with a roughly 90% chance of a rate hike, according to CME Group's FedWatch tool.