The US Dollar Index rose near 99.60 as geopolitical risks in the Strait of Hormuz supported safe-haven demand.
The US Dollar Index (DXY) traded firmly near 99.60 on Tuesday, bolstered by safe-haven flows amid persistent tensions in the Strait of Hormuz. The move reflected investor caution ahead of key economic releases, including UK CPI data and the FOMC minutes later in the week.
Gold and oil prices retreated, while most major currencies weakened against the dollar. The greenback’s strength contrasted with broader risk-off sentiment, as markets awaited further clarity on monetary policy and inflation trends.
No immediate market reaction was specified, but the dollar’s resilience underscored its role as a haven amid geopolitical uncertainty.