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Dollar steady amid Middle East tensions
The dollar matched its rise in demand as a safe haven amidst Middle East tensions, with oil prices increasing due to fears of supply disruptions. The euro continued to decline, while the British pound rose against the euro amid growing expectations of a UK interest rate hike following rising inflation. The dollar index remained steady at 101.76, closely tied to geopolitical developments, and oil prices climbed by more than a dollar per barrel amid signals of escalating tensions in the Middle East and their impact on energy markets.
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