Dollar Rises as Middle East Tensions Persist -- Market Talk

0714 GMT - The dollar rises to a two-week high against a basket of currencies as ongoing U.S.-Iran tensions and the continued closure of the Strait of Hormuz supports safe-haven assets and keeps oil prices elevated. The dollar briefly fell after data Wednesday showed U.S. inflation eased in line with expectations to 3.4% in July from 3.5% in June, prompting markets to trim expectations for a September interest rate rise by the Federal Reserve. This was "merely a continuation of the trend towards lower inflation, partly distorted by one-off effects" and the dollar's falls proved short-lived, Commerzbank's Michael Pfister says in a note. The DXY dollar index rises to as high as 100.083. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

August 13, 2026 03:14 ET (07:14 GMT)