Rising oil prices and escalating tensions in the Middle East strengthen the US dollar
智通财经2026/10/07 16:06As oil prices rise and tensions in the Middle East further escalate, investors are flocking to safe-haven assets, leading to a significant strengthening of the US dollar on Wednesday. Following an increase in Iranian attacks on vessels in the Strait of Hormuz, the US Dollar Index (DXY) rose as much as 0.5%, climbing in tandem with oil prices and now approaching a new high for the year. Among G10 currencies, almost all fell against the US dollar, with the euro performing the weakest compared to other major currencies. XTB Research Director Kathleen Brooks stated in a report: "The US dollar is acting as a counter-cyclical asset, attracting safe-haven capital inflows as other asset classes are being sold off."
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