Dollar rises amid renewed Iran attacks and Strait of Hormuz closure

The value of the US dollar increased against most global currencies due to the renewed military operations in the Middle East and the reopening of the Strait of Hormuz, which led to increased inflation concerns and the possibility of central banks raising interest rates. Oil prices also rose by over 3%, and markets were affected by expectations of rate hikes to mitigate the impact of rising energy prices on inflation.

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