Washington, July 22 (SANA) – The U.S. dollar strengthened for a fourth consecutive session on Tuesday as rising oil prices, driven by escalating tensions in the Middle East, fueled concerns that inflationary pressures could remain elevated.
The dollar index, which tracks the U.S. currency against a basket of major peers, rose 0.17% to 101.16. The euro slipped 0.11% to $1.1402, while sterling fell 0.39% to $1.3376, marking its fourth straight daily decline, according to Reuters
The Japanese yen weakened 0.41% to 163.14 per dollar, crossing the 163 threshold for the first time since December 1986. Investors remain alert for any signs of intervention by Japanese authorities to support the currency.
Currency markets continued to react to heightened geopolitical risks in the Middle East, where ongoing military escalation has pushed oil prices higher. The gains followed continued U.S. strikes against Iran for a ninth consecutive night, reinforcing concerns over global energy supplies and inflation.
R.H/MZN
