Dollar Holds Near 18-Month High at 102.39 as Brent Climbs to $106.80
Updated
Updated · Central Oregon Daily · Oct 12
Dollar Holds Near 18-Month High at 102.39 as Brent Climbs to $106.80
3 articles · Updated · Central Oregon Daily · Oct 12
Summary
The dollar index rose 0.16% to 102.39, staying just below last week’s 18-month high as investors sought safety amid escalating Middle East tensions.
Brent crude gained 2.09% to $106.80 after Houthi strikes on Saudi Arabia and weekend attacks on two tankers, keeping markets cautious despite a US-announced Ukraine-Russia energy ceasefire.
Dollar bullish bets jumped to about $36 billion in the week to Oct. 7 from $8.4 billion three weeks earlier, while the euro slipped 0.19% to $1.1180 after five straight weekly losses.
Wednesday’s US CPI report is now the key near-term test for the currency, with traders pricing an 81% chance the Fed leaves rates unchanged this month after last month’s hike.