Inflation fears and Iran uncertainty lift the dollar
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The U.S. dollar reached a six-week high against the euro as investors anticipated potential interest rate hikes by the Federal Reserve to combat inflation. Oil prices fell following comments from President Trump regarding Iran, impacting market sentiment. The dollar index rose 0.34% to 99.30, while the euro and sterling weakened. The Japanese yen approached intervention levels amid expectations for a Bank of Japan rate increase, with officials ready to act against currency volatility.
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