The dollar rose to a three-month high due to the Middle East conflict, with increased demand for safe-haven assets

According to Jinshi News, the US dollar rose to a three-and-a-half-month high against a basket of currencies, as ongoing conflicts in the Middle East prompted investors to seek safe havens and pushed up oil prices.

In a report, Commerzbank analyst Falkmar Beutel stated that although the Iran conflict is nearing the end of its second week, there are still no signs of resolution. He pointed out that due to stronger economic growth in the US and the possibility that the Federal Reserve may delay expected rate cuts to address potential rising inflation, the dollar may strengthen in the short term.