Dollar rises as Iran tensions hit ceasefire hopes
The dollar edged higher today as a standoff between Iran and the United States over the Strait of Hormuz increased safe-haven demand and slowed peace talks.
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The greenback strengthened on Thursday, positioning itself for a weekly gain as escalating geopolitical friction between Iran and the United States dampened investor hopes for a lasting ceasefire. Tensions in the Middle East intensified after Iranian forces demonstrated control over the Strait of Hormuz, a critical maritime artery for global energy supplies including Brent Crude Oil and West Texas Oil.
