Forex
Dollar Stabilizes Amid Escalating US-Iran Tensions
The dollar has stabilized in response to escalating US-Iran tensions, which have driven up oil prices and raised inflation fears. The dollar index eased by 0.06% to 101.05 on Thursday.
Brent crude futures rose over 1.3% to $95.31 a barrel after the US military launched new strikes on Iran and Iranian-aligned Houthis claimed naval blockade on Saudi Arabia, increasing the risk of disruptions to global oil flows.
Two-year U.S. Treasury yields climbed to a 17-month high as rising oil prices stoked inflation concerns, which could increase the odds of Federal Reserve interest rate hikes.