Dollar stays steady amid rising oil

The latest reports show that the US dollar remained stable near its highest level in approximately two weeks, supported by rising US Treasury yields and expectations of an interest rate hike by the Federal Reserve, despite a decline in US economic data. The dollar index rose to 99.79 points, and the escalation of tensions in the Middle East coupled with rising oil prices has boosted investors' appetite for some safe-haven currencies. Meanwhile, the Japanese yen continued to decline despite expectations of a Japanese interest rate increase, due to pressures from interventions and geopolitical activities. Additionally, the rise in bond yields is supporting the strength of the dollar, while the Japanese yen and European currencies have weakened amid concerns over inflation and potential future monetary tightening.

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