Dollar Soars as Iran Attack Fuels Global Market Jitters

The US dollar surged to 15-month highs after Iran launched a new missile attack on US troops, which was successfully intercepted. Crude oil prices jumped 4.1% in response to the heightened tensions.

In Asia, the greenback strengthened against several currencies, including the yuan and Singapore dollar, with USD/CNH and USD/SGD gaining 0.1%. The Aussie, however, led losses among major currencies, falling by 0.3% against the US dollar.

The Reserve Bank of Australia (RBA) Governor Michele Bullock emphasized that inflation remains above the central bank's comfort zone, and policymakers are ready to act again if necessary. This sentiment reinforces expectations that another rate increase may be possible this year.