Commodities
Dollar Soars on Middle East Tensions, Oil Price Surge
The dollar index rose to its highest point since August 17, reaching 99.79 on Wednesday, as renewed hostilities in the Middle East drove oil prices higher.
Rising Treasury yields and growing expectations of a Federal Reserve rate hike also contributed to the dollar's strength.
Oil prices surged after the U.S. launched airstrikes on Iran, prompting Iranian retaliation.
The British pound lost 0.09% to $1.3503, while the Australian dollar eased 0.04% to $0.7141.