Dollar Holds Firm Near 99.60 as Hormuz Tensions Support Safe-Haven Bid
The US Dollar Index maintained a firm tone near 99.60 on Tuesday as Strait of Hormuz tensions supported safe-haven demand, while gold and oil sold off.
DXY
The DXY was steady near the 99.60 level on Tuesday, with a mild safe-haven bid linked to ongoing tensions around the Strait of Hormuz.
Gold and oil both came under selling pressure, while most major currencies drifted lower against the US dollar.
The moves came ahead of the UK CPI release and the FOMC minutes, leaving traders focused on upcoming inflation and policy signals.
Source: FXStreet Forex News