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Dollar Index Posts Best Week in a Month on Middle East Tensions and Oil Spike

GateNews
ForexCommodities
On Friday (July 24), the U.S. dollar index (DXY) rose to 101.49, marking its strongest week in over a month with a 0.7% weekly gain. The dollar strengthened amid heightened Middle East tensions—including attacks on Saudi oil tankers in the Red Sea by Iran-backed Houthi forces—which pushed Brent crude futures above $100 per barrel for the first time since May. Growing expectations of inflation pressure also lifted the dollar, with U.S. Treasury yields climbing sharply; the 10-year yield rose 14 basis points and the 2-year yield climbed over 16 basis points this week. Market pricing for a Fed rate hike in next week's policy meeting increased to roughly 38% from 13% a week prior, while other major currencies weakened, with the euro down 0.6% and sterling off 1% for the week.
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In-Depth Analysis

US Dollar Index Falls 0.023% to 101.414 Amid Iran-US Tensions

Lucas Bennett8h ago

Brent Crude Settles Above $100 After Houthi Strikes on Saudi Tankers

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Brent Crude Surges Past $100 on Houthi Tanker Attacks in Red Sea

Lucas Bennett07-23 21:50
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