Dollar Holds Steady Near Two-Week High Amid Middle East Tensions

The US dollar has stabilized near its two-week high, driven by renewed hostilities in the Middle East and rising oil prices. This development has led to increased inflation concerns and higher bond yields.

The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.11% to 99.79, its highest point since August 17.

The euro dropped by 0.13% to $1.1577, while the British pound fell by 0.09% to $1.3503. The Australian dollar also declined by 0.04% to $0.7141.

Notably, despite a recent interest rate hike, the New Zealand dollar dropped 0.8% against the US currency to $0.5844, its lowest level since August 13.