Dollar Rises as Oil Prices Remain Elevated Amid Trump-Iran Tensions

The price of oil remains elevated due to Trump's mixed rhetoric on Iran.

Oil spot prices have increased by around 5% from last week's trough, with investors focused on the fluctuating oil price action.

US President Trump's rejection of another set of proposals to reopen the Hormuz Strait has added uncertainty to the situation, and his announcement of further talks this week is seen as unlikely to achieve a breakthrough.

The dollar gains amidst rising yields and negative eurozone newsflow, with the greenback posting significant gains across the board in September.