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Forex

Dollar Strengthens Amid Rising Oil Prices and Iran Tensions

Guavy AI Editorial Team
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USD
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The US dollar continued its upward trend, reaching a two-month high as oil prices climbed due to rising tensions between the US and Iran.

According to data from the Dollar Index, which measures the value of the US currency against a basket of major currencies, the greenback was trading at 101.15, on track for a 1.7% gain in September - its strongest monthly performance since June.

Brent crude prices surged above $106 a barrel after US President Donald Trump rejected an Iran peace proposal, further fueling inflation concerns and expectations of additional Federal Reserve tightening.

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