Dollar Index Near 99 Amid US-Iran Tensions and Upcoming US Inflation Data
The US dollar index fluctuated near the 99 mark amid renewed military tensions between the US and Iran, including reported strikes and airspace violations. These developments have increased oil prices and inflation concerns, influencing expectations of a hawkish Federal Reserve stance. Market focus remains on the upcoming US Personal Consumption Expenditure (PCE) inflation data for further insights into monetary policy direction amid ongoing geopolitical uncertainty around the Strait of Hormuz.