Dollar Surges to New High vs Yen Amid Middle East Tensions
The US dollar has reached a fresh 40-year high against the Japanese yen and edged lower against the euro as investors remain focused on escalating conflicts in the Middle East.
Oil prices have risen for a fifth consecutive day due to attacks on tankers in the Red Sea by Yemen's Houthis, while the US-Israeli war on Iran has nearly shut the Strait of Hormuz.