Dollar Hits Weekly Highs as Yen Slips Amid Middle East Energy Fears
· Business · Economic Times, New York Times
The U.S. dollar index held firm near weekly highs at 99.081 as fears of energy supply disruptions in the Middle East intensified. Brent crude futures gained for six consecutive days to reach $108.96, while WTI also breached the $100 mark for the first time since May. U.S. producer prices rose by 0.4% in August, meeting expectations and boosting bond yields. Conversely, the Japanese yen fell for a second day at the start of Asian trading as investors await Federal Reserve interest rate deliberations.
Why it matters
Rising energy prices and Middle East tensions are driving safe-haven demand for the dollar, putting pressure on emerging currencies. This volatility impacts global trade costs and inflation outlook for importers like India.
Read the original report — Economic Times
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