Dollar Index Reaches One Week High as Tensions Rise
The dollar index reached 98.485 as investors sought safe havens after the U.S. seized an Iranian ship. Tensions rose as Iran declined further peace talks.
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The dollar climbed toward its highest level in a week as Asian markets opened on Monday, following the closure of the Strait of Hormuz and reignited tensions in the Middle East. The dollar index, which tracks the greenback against a basket of six major currencies, rose 0.3% to 98.485, its strongest point since April 13. This move reversed a selloff that had recently pushed the currency to its lowest levels since the start of the conflict.
