Dollar Rises as Oil Prices Surge Amid Middle East Tensions

The U.S. dollar rose for the week despite easing expectations of further monetary tightening by the Federal Reserve.

This was largely due to rising oil prices and safe-haven demand, which offset the currency's decline.

Geopolitical risks in the Middle East pushed Brent crude oil futures up 1.7% to $88.52 per barrel, bringing the weekly gain to approximately 4.5%.

The dollar weakened last Friday after markets adjusted their expectations for the Fed's monetary policy following easing inflation, weak retail sales, and softer employment data.