Dollar holds near 18-month high as geopolitical risks rise
Higher US Treasury yields and energy costs kept the dollar strong as attacks on infrastructure in the Middle East and Ukraine lifted safe-haven demand.
- On Tuesday, the USD held its ground in Asian trading as geopolitical risks rose following renewed attacks on energy infrastructure in the Middle East and Ukraine.
- Brent crude futures slid 0.9% to $105.74, partially retracing Monday's 1.8% gain driven by attacks in Saudi Arabia and Ukraine, while rising Treasury bond yields supported the USD.
- Chris Weston, head of research at Pepperstone Group Ltd in Melbourne, said "higher relative interest rates" and "stronger US growth" provide tailwinds for the USD; the British pound remained steady at $1.3209.
- Bank of Japan data showed wholesale prices rose 6.8% in the year to September, falling short of the 7.6% forecast, as the USD weakened 0.1% against the yen.
- The Australian dollar was 0.1% weaker at $0.6956 after the Reserve Bank voted unanimously to raise rates for the fourth time this year, while The New Zealand dollar fell 0.1% to $0.5582, trading near an 18-month low.
13 Articles
13 Articles
The dollar settled at the beginning of the Asian trades today after a holiday in some American markets, while geopolitical risks escalated following renewed attacks on energy installations in the Middle East and Ukraine.
USD Index Remains Well Supported by Positive Technical and Fundamental Factors - ActionForex
The dollar kept firm tone and jumped towards new 2026 peak (102.30) on Monday, as escalation of conflict in the Middle East continues to fuel safe-haven demand. Markets also anticipate that US inflation will rise further in September (data due on Wednesday) that supports growing expectations for rate hikes from December onwards (FOMC is widely […]
Currency remained close to its peak of 18 months during the session, sustained by demand for safe haven assets, while the growing conflict in the Middle East left investors cautious
American currency reacts to conflicts in the Middle East and Ukraine, impacting oil prices and the global economy
U.S. Dollar Tests Yearly Highs As Oil Markets Rally: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY
DXY 121026 4h Chart U.S. Dollar Index gains ground as traders focus on rising oil prices. Oil markets gained 2% amid escalation in the Middle East. Iran-backed Houthis attacked Saudi airports, killing civilians. Traders bet that U.S. may intervene to provide additional support to Saudi Arabia. Such a scenario would be bullish for oil prices [...]
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