Brent $95.52 and WTI $91.02 lift US dollar amid tensions
Business
The US dollar got a boost on Wednesday, thanks to rising oil prices and fresh tensions in the Middle East.
Brent crude hit $95.52 a barrel, while US WTI climbed to $91.02.
After US airstrikes on Iran and Iranian retaliation, markets got jittery, so investors turned to the dollar for safety.
Fed hike odds rise, yen weakens
With the US 10-year Treasury yield hitting 4.8%, chances of a Federal Reserve rate hike in September have shot up: markets now see it as pretty likely (67% probability).
Even with slow job growth and stubborn inflation, the Fed's next move will depend on upcoming data.
Meanwhile, the Japanese yen is still under pressure despite overwhelming expectations that the Bank of Japan will raise rates this month, making the dollar even stronger against it.