Dollar Soars on Middle East Tensions and Rate Hike Anticipation

The US dollar experienced a significant surge on Monday, driven by escalating tensions in the Middle East and anticipation of an imminent interest rate hike by the Federal Reserve.

The heightened geopolitical uncertainty led to a sharp increase in oil prices, with Brent crude touching $109.8 per barrel before stabilizing slightly.

Investors turned to the dollar as a safe-haven asset, causing the US dollar index to climb 0.3% to 99.41, its highest level since early September.