US dollar rises after President Trump seizes Iranian ship
Business
The US dollar got a boost at the start of Asian trading on Monday, hitting its highest level in a week as tensions rose in the Middle East.
This shift came after President Trump announced the seizure of an Iranian cargo ship, which reversed earlier optimism about a peace deal.
Currencies slip amid Middle East uncertainty
The unrest didn't just move the dollar. Other currencies like the euro, pound, aussie, and kiwi all slipped. Even bitcoin and ether dropped about 0.7%.
Analysts say where the dollar goes next really depends on how things play out in the Middle East, with one noting, the dollar remains a favored currency but its direction will depend on geopolitical events.