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Dollar hovers near 18-month high amid Middle East unrest

The US dollar held near an 18-month high as escalating conflict in the Middle East drove safe-haven demand. Investors remained cautious ahead of crucial consumer inflation data later this week. Meanwhile, rising oil prices and geopolitical tensions weighed on global market sentiment.

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FILE PHOTO: U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

The dollar held near an 18-month high during Monday morning trading, supported by safe-haven demand as escalating Middle East conflicts kept investors cautious ahead of key inflation figures. The dollar index rose 0.16% to 102.39, driven by safe-haven flows into the United States.
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