U.S. Dollar Rises With More Room To Run Amid Iran War, Surging Oil Prices

Markit3.72K FollowersFollow5ShareSavePlay(5min)CommentsSummaryThe beleaguered US dollar has rallied in response to the conflict in Iran and the surging oil and gasoline prices that followed.The US dollar index, which measures the dollar against a basket of currency peers, traded as high as 99.41 after the US launched strikes against Iran, a 2.1% increase from the end of February.The dollar has strengthened as Brent crude oil futures surged above $100 per barrel for the first time since Russia's 2022 invasion of Ukraine.US interest rate cuts tend to weaken the dollar, as dollar-denominated assets become less attractive to foreign investors when rates are low.

Nico De Pasquale Photography/DigitalVision via Getty Images The beleaguered US dollar has rallied in response to the conflict in Iran and the surging oil and gasoline prices that followed, potentially blunting some of the impact of the expected rise inThis article was written byMarkit3.72K FollowersFollowIHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.