Dollar Gains Amid Iran Tensions and Fed Hike Prospects
The dollar rose as Iran tensions and hawkish Fed signals boosted demand. Investors now await inflation data while monitoring the conflict in the Middle East.
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The United States dollar index rose 0.18% to 99.39 on May 28 as conflict with Iran intensified. The greenback reached its highest level since April 7 after Iranian forces reportedly targeted a U.S. airbase. Investors are pivoting toward safe-haven assets while weighing the impact of potential Federal Reserve interest rate hikes.
