Middle East Conflict Drives Dollar Higher and Oil to Multi‑Year Highs

Oil prices surged this week as the closure of the Strait of Hormuz disrupted 20% of global supply, fueling safe‑haven demand for the U.S. Dollar. While the stronger dollar weighed on most major currencies, the Yuan and Australian Dollar showed resilience. Precious metals, meanwhile, retreated on profit‑taking and reduced appeal amid expectations of delayed Fed rate cuts.

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