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Dollar Index Hits Two-Week High as Middle East Tensions Rise

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Story summary
  • Investors pushed the U.S. dollar to a two-week high amid Middle East conflict and rate-hopes.
  • The dollar index rose 0.5% to 99.59, its highest level since September 2.
  • Brent crude jumped 3% to $108 a barrel, lifting global bond yields.
  • Houthi strikes hit Saudi Arabia after its main pipeline shut, raising energy-supply concerns.
  • ING strategist Francesco Pesole said Gulf developments and AI headlines keep the dollar supported.