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Dollar Rises as Intensifying Iran War Lifts Rate Hike Bets

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The dollar jumped Thursday as intensifying conflict in the Middle East sparked concerns over energy supply disruptions, fueling expectations that interest rates will stay higher for longer.

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Dollar Rises as Intensifying Iran War Lifts Rate Hike Bets

The dollar jumped Thursday as intensifying conflict in the Middle East sparked concerns over energy supply disruptions. The conflict has led to a surge in oil prices, with oil topping $100 a barrel. The dollar's rise was also fueled by expectations that interest rates will stay higher for longer. The Bloomberg Dollar Spot Index rose 0.3%, poised for the best week in a month. The dollar's strength is a result of the ongoing conflict in the Middle East, which has led to a surge in oil prices and concerns over energy supply disruptions. The situation remains tense, with both sides trading blame for the conflict.

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Dollar Hits New 40-Year High Versus Yen, Euro Softer After ECB Stands Pat on Rates

The dollar strengthened to a fresh 40-year high against the yen and climbed against the euro on Thursday as oil prices continued to shoot higher on rising hostilities in the Middle East. The euro softened after the European Central Bank (ECB) stood pat on interest rates. The dollar's strength was also driven by a stable US labor market. Brent crude prices rose above $100 per barrel, further boosting the dollar's value. The dollar's surge has significant implications for global trade and finance.

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