Dollar Surges as President Trump Announces Further Strikes on Iran
The U.S. dollar experienced a sharp rise following President Trump's announcement of more aggressive strikes on Iran, which disrupted hopes for a swift resolution to the conflict. In a televised speech, Trump indicated that these strikes would occur over the next two to three weeks, without providing a concrete timeline for opening the Strait of Hormuz or ending the war. Iran's military responded with threats of more destructive attacks against the U.S. and Israel. The announcement led investors to seek safe-haven assets, causing oil prices to jump and stocks to tumble. The dollar index rose significantly, reflecting increased demand for the greenback amid market uncertainty.