Dollar Gains on War Risks as BOJ Policy Split Limits Yen
The dollar rose Tuesday as conflict in Iran fueled risk-off sentiment while a split Bank of Japan vote kept the yen steady. Markets also await the Fed meeting.
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The United States dollar rose 0.2% to 98.66 on Tuesday as war in Iran drove safe-haven buying.
The move eclipsed a volatile session for the USD/JPY after a divided Bank of Japan (BOJ) policy vote. Investors are pivoting toward defensive assets as energy disruptions through the Strait of Hormuz skew global inflation risks higher.
