Dollar Soars to New Highs Amid Fed Expectations and Oil Price Hikes

The US dollar has continued its upward trend, reaching a four-session high of 101.2 on Thursday, its longest winning streak since May and nearing July's highs.

This surge can be attributed to expectations of further tightening by the Federal Reserve.

Oil prices have also increased due to heightened tensions between the US and Iran, which has led to a new record high for US diesel prices.

This rise in energy costs is likely to exacerbate inflationary pressures.