Dollar Keeps Gains as Middle East Energy Worries Intensify
The US dollar held near its highest levels of the past week in Asian trading on Friday as renewed fears of energy supply disruptions in the Middle East pushed up bond yields and oil prices.
The U.S. dollar index, which measures the greenback's strength against a basket of six currencies, was trading flat at 99.084 after strengthening to its highest level since September 7 during the previous session.
This rise followed data showing US producer prices increased 0.4% in August, meeting market expectations as energy prices rebounded during the month.
However, energy prices snapped a five-day gaining streak with Brent crude futures down 0.6% at $106.99 a barrel in Asian trade, but both major benchmarks remained above the $100 mark earlier this week.