Dollar Rises Along with Oil Prices Amid Geopolitical Tensions
Dow Jones
Yesterday
1009 GMT - The dollar rises as oil prices turn higher on doubts over President Trump's announcement of a Russia-Ukraine energy ceasefire, along with the continuing Middle East conflict. Ukraine President Volodymyr Zelensky said Russia struck a power plant in Kharkiv immediately after Trump's ceasefire declaration. Meanwhile, Iran-backed Houthis launched strikes against an airport in Riyadh, Saudi Arabia. Higher oil prices support the case for further U.S. interest-rate rises while the U.S. is a net oil exporter. Geopolitical tensions also drive safe-haven flows to the dollar. The DXY dollar index rises 0.2% to 102.398 after trading steady earlier.
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