The US dollar index eased slightly to 101.05, stabilizing after recent gains driven by escalating tensions between the United States and Iran.
The greenback’s resilience reflects persistent market concerns over potential supply chain disruptions and rising energy costs stemming from the conflict in the Middle East.
Meanwhile, the Japanese yen continues its sharp decline, trading near its weakest level against the dollar in four decades.
The currency breached the ¥162 threshold during morning trading in Tokyo, marking a significant milestone in its prolonged depreciation.
This move underscores the yen’s vulnerability amid diverging monetary policy expectations and risk-off sentiment.
Rising oil prices, fueled by fears of Middle East instability, are adding to inflationary pressures globally.