The U.S. dollar index rose during Monday’s trading, supported by its status as a safe-haven asset following U.S. airstrikes on Iranian nuclear sites.
The dollar index—which measures the performance of the greenback against a basket of six major currencies—climbed 0.65% to 99.37 points as of 1:54 p.m. Mecca time.
The euro fell by 0.5% to $1.1461, while the British pound declined 0.55% to $1.3376. Meanwhile, the U.S. dollar rose 1.3% against the Japanese yen, reaching 147.97 yen.
Kristine Kundby Nielsen, an analyst at Danske Bank, stated that the escalating crisis in the Middle East—following Washington’s weekend strikes on Iran—has increased demand for safe-haven assets. This has led to rising oil prices, falling stocks, and a stronger dollar, according to CNBC
