US Dollar Gains After Trump Vows More Strikes on Iran

The U.S. dollar advanced against major global currencies on Thursday, reversing two days of declines following a pivotal address by the president of the United States. The speech, which focused on the ongoing conflict with Iran, dampened investor hopes for a quick resolution to Middle Eastern tensions and sparked a flight to safe-haven assets.

During the address, the president pledged more aggressive military actions within the next two to three weeks but provided no specific timeline for concluding the hostilities. This lack of a clear exit strategy rattled global markets, prompting investors to shed risky assets in favor of the greenback. Consequently, the dollar index, which tracks the currency against a basket of peers, rose approximately 0.5% to reclaim the 100 level.