US Dollar Holds Near Two Month High on Geopolitical Risk
The greenback remains firm against major peers as uncertainty over an Iran-Israel truce and expectations of a Federal Reserve rate hike drive demand. Markets are now focused on upcoming US inflation data to gauge the likelihood of further monetary tightening before the end of the year.
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The United States dollar held near a two-month high on Tuesday as Middle East instability and rising interest rate expectations fueled safe-haven demand. The dollar index remained steady at 100.03, just below the 100.21 peak reached on Monday. For investors, the greenback's strength reflects a shift toward defensive positioning as geopolitical risks threaten to keep inflation elevated.
