The US dollar rose against other major currencies on Monday, as investors sought safe-haven assets amid growing concerns about the impact of the Middle East conflict on the global economy.
The dollar's rise came amid growing concern that a prolonged war in the region could lead to major disruptions in global energy supplies, which could negatively impact global economic growth prospects.
The US dollar index – which measures the performance of the US currency against a basket of six major currencies – rose by 0.35% to 99.34 points.
The index had touched 99.70 points earlier in the session, its highest level since November 28, before paring some of its gains during trading.
This rise comes as demand for the dollar increases as it is seen as a safe haven during times of geopolitical turmoil and economic volatility, especially with escalating tensions in the Middle East and their potential impact on energy markets and global trade.
