Dollar Hits Six Week High on Iran Doubts and Growth Fears
The dollar rose to a six-week high after Iran's Supreme Leader hardened his stance on uranium exports, casting doubt on a potential Middle East peace deal. Weak economic activity in Europe and Japan further supported the greenback as investors weighed the impact of prolonged energy disruptions on global inflation.
The United States dollar rose 0.3% to a six-week high on Thursday after Iran hardened its stance on nuclear material exports, disrupting market optimism. U.S. President Donald Trump said on Wednesday that negotiations with Iran were in the final stages, but Iran's Supreme Leader then issued a directive that the country's near-weapons-grade uranium must not be sent abroad. For investors, the prospect of prolonged energy disruptions heightens inflation risks, potentially forcing the Federal Reserve to maintain a hawkish interest rate path.
