Dollar Surges on Oil Prices, Rate Hike Expectations

The US dollar rose to its highest level in two weeks on September 14th as oil prices surged and investors sought safe-haven assets.

The dollar index, which tracks the currency against six major peers, reached almost a 0.4% gain after touching 99.6, its highest since September 2nd.

Rising bets on a Federal Reserve rate hike this week also supported the US currency, while warnings from CEOs about AI dangers weighed on stocks and boosted the dollar.

The euro fell to a one-month low of $1.153 and was last down 0.4%, while the British pound fell 0.3% to $1.35.