Dollar hits two-month high as oil surges on Iran tensions

cnbc.com —

The dollar rose to near two-month highs on Monday as U.S.-Iran tensions lifted oil prices and traders increased bets on a hawkish Federal Reserve. The dollar index stood at 101.15, on track for a 1.7% September gain. Brent crude futures climbed above $106 a barrel after President Trump rejected a peace deal with Iran, heightening inflation concerns. Markets now see a 65% chance of a Fed rate hike in late October, with the euro and sterling both down 0.1% against the greenback. Investors await U.S. PCE data Wednesday and non-farm payrolls Friday, plus China PMIs and Japan and euro zone CPIs. The yen fell 0.3% to 157.7 per dollar, while the Australian dollar traded at $0.7017 ahead of a likely RBA rate hike Tuesday.


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Dollar hits two-month high as oil surges on Iran tensions | News Minimalist