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Forex

Middle East Deadlock Deepens as Dollar Remains Flat

Guavy AI Editorial Team
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The Middle East deadlock has intensified after the UAE announced it would halt all dealings with Iran. This move could either break the stalemate or trigger fresh hostilities in the region.

The decision affects trade between the two nations, as the UAE is Iran's largest trading partner for non-oil products and serves as a key logistics and financial hub for Iranian businesses.

Oil prices have edged higher to around $86 per barrel, but the dollar remains largely unchanged. The euro has climbed towards 1.1600 against the US dollar, potentially testing resistance at the 200-day simple moving average of 1.1625.

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