US Dollar Index Holds Gains as Hormuz Tensions Boost Safe-Haven Demand

The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, is trading around 100.90 during European hours on Monday. This follows two consecutive flat sessions, with the index now finding support from increased safe-haven flows.

Geopolitical tensions in the Strait of Hormuz are driving demand for the US dollar as investors seek refuge from uncertainty. The index remains near recent highs, reflecting a risk-off mood in global markets.

No further details on the specific nature of the tensions were provided in the original report. Traders will watch for developments in the region and any impact on energy prices or broader risk sentiment.