Dollar Holds Firm Amid Rising Energy Prices and Mideast Tensions

The US dollar maintained its strength against major currencies as energy prices continued to rise due to renewed fears of disruptions in the Middle East. The U.S. dollar index, which measures the greenback's performance against a basket of six currencies, held steady at 99.081 after gaining 0.3% on Thursday.

The data showed US producer prices rose 0.4% in August, meeting market expectations as energy prices rebounded during the month. Energy prices extended gains for a sixth consecutive day, with Brent crude futures rising 1.2% to $108.96 a barrel.

Against the yen, the US dollar was firmer by up to 0.1%, while the euro strengthened by a similar magnitude after the European Central Bank hiked interest rates on Thursday for the second time this year.