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Forex

Dollar Gains as Oil Prices Surge Amid US-Iran Tensions

Guavy AI Editorial Team
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EUR USD
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The US dollar strengthened on Tuesday as renewed hostilities between the US and Iran sent oil prices higher, fueling inflation worries and sparking a global bond selloff.

Oil prices rose over 2 percent following President Donald Trump's threat of further strikes against Iran. This led to increased inflation risks and made safe havens more appealing.

The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.16 percent to 99.57.

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