Dollar Rises Amid Middle East Tensions

The US dollar has steadied near its two-week high due to renewed hostilities in the Middle East, which have driven oil prices higher. This has led to increased inflation concerns and upward pressure on bond yields.

The dollar index rose by 0.11% to 99.79, its highest point since August 17. The euro was down 0.14% at $1.1576.

Fed's Williams stated that the Federal Reserve's job is to achieve price stability and that 2% inflation is their top priority. He also mentioned that tariffs and Middle East war are significant drivers of inflation over target.