The dollar rose after Iran threatened to abandon US negotiations, boosting oil prices and safe-haven flows.
The US dollar climbed 0.4% on Monday after reports emerged that Iran planned to withdraw from negotiations with the US. The move heightened geopolitical tensions, driving investors toward safe-haven assets and lifting oil prices.
Prior to the news, the dollar had shown mixed performance amid broader market uncertainty. Strong US macroeconomic data earlier in the session also supported the currency’s upward momentum.
The shift in sentiment underscored the dollar’s role as a refuge during periods of heightened risk, particularly as energy markets reacted to supply concerns.