Forex
Dollar Soars on Escalating Middle East Tensions and Rising Oil Prices
The US dollar continued its upward momentum on Wednesday, reaching a two-week high as renewed hostilities in the Middle East drove oil prices higher and inflation concerns grew.
The dollar index rose 0.11% to 99.79, with the euro down 0.13% at $1.1577.
Kumiko Ishikawa, a senior FX analyst at Sony Financial Group, warned that continued vigilance is needed over the situation in the Middle East.
The New Zealand dollar weakened 0.8% against the greenback to $0.5844, its lowest point since August 13, despite the country's central bank raising its official cash rate by 25 basis points.