New York (Lord Media): Global financial and energy markets reacted swiftly following new U.S. airstrikes on Iran. The increased geopolitical tensions strengthened the U.S. dollar and caused a significant rise in crude oil prices.
In Asian markets, the U.S. dollar reached its highest level of the week at the start of trading. The dollar index climbed to 101.18 points, marking its highest since July 2. The New Zealand dollar traded at 0.5681 U.S. dollars, up by 0.1%.
The U.S. dollar also strengthened by 0.1% against the Japanese yen, reaching 162.28 yen, while the euro fell by 0.1% to 1.1405 U.S. dollars. The British pound traded slightly lower at 1.3353 U.S. dollars, while the Australian dollar remained stable.
Digital currencies also faced pressure, with Bitcoin’s price dropping by 0.2% to 63,518 U.S. dollars and Ether falling by 0.5% to 1,774 U.S. dollars.
Amid rising tensions in the Middle East, global crude oil prices saw an increase. The price of U.S. crude oil, West Texas Intermediate, rose by 2.63% to 72.29 U.S. dollars per barrel.
Experts suggest that the direction of oil and currency markets will depend on the situation between Iran and the U.S. and the state of the Strait of Hormuz. If tensions in the region escalate further, both oil and the dollar may continue to rise.
