US Dollar Rises as Middle East Conflict Lifts Oil
The US dollar reached a two week high on Monday as rising oil prices and concerns over artificial intelligence drove investors toward safe haven assets. Middle East tensions and growing expectations of a Federal Reserve rate hike further supported the currency.
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The United States dollar rose to 99.6 on Monday morning, touching its highest level since September 2 amid surging oil prices and rising rate-hike bets. The safe-haven currency gained nearly 0.4% against six major peers during the Monday session. Investor demand surged following Middle East supply disruptions and warnings from technology executives regarding artificial intelligence.
