Forex
Dollar Holds Near One-Week High Amid Rising Oil Prices
The US dollar continued its upward trend on Friday, holding near a one-week high as concerns over energy supply disruptions in the Middle East pushed oil prices and bond yields higher.
The US dollar index stood at 99.081, relatively stable after gaining 0.3% on Thursday to reach its highest level since September 7th.
Tony Sycamore, a market analyst at IG in Sydney, attributed the dollar's strength to investors turning risk-averse and rising energy prices increasing the probability of the Federal Reserve raising interest rates next week to 70%.