Dollar Reaches One-Month High as Brent Crude Surges Past $100

The US dollar has reached a one-month high due to expectations that the Federal Reserve will maintain higher interest rates for longer, combined with safe-haven demand driven by rising geopolitical tensions and a surge in oil prices.

Brent crude oil also breached the $100 per barrel mark for the first time since late 2023, driven by supply disruptions including production cuts from major OPEC+ members and escalating tensions in key oil-producing regions.

The euro was among the hardest-hit major currencies, falling sharply against the dollar following the European Central Bank's decision to hold its key interest rate steady, signaling a more cautious approach compared to the Federal Reserve.