Economy

Dollar Holds Steady as Middle East Tensions and Rising Oil Push Up Demand

AI SUMMARY

The US dollar held steady against major currencies as Middle East tensions and rising oil prices boosted its safe-haven appeal.

The dollar held steady against most major currencies as investors weighed developments in the Middle East conflict.
The euro slipped 0.1% to $1.122 amid widespread anti-government protests in France and a worsening fiscal outlook.
Sterling inched up 0.1% to $1.338 following higher-than-expected UK inflation data.
The Japanese yen firmed at 157.96 per dollar, with Bank of Japan Deputy Governor Ryozo Himino signaling scope for higher borrowing costs.
The Australian dollar climbed to a three-week high, up 0.4% at $0.703.
The Indonesian rupiah inched 0.1% lower after its central bank left its main interest rate unchanged.
Oil prices gained more than $2 a barrel after Iran stated there was little reason to expect diplomatic progress with the US.
The dollar faced pressure this month from falling Treasury yields as investors sought safety in government bonds amid stock market volatility.