US dollar strength continues near 10-day high while oil prices dip slightly after recent gains in global markets.
NEW YORK: US dollar strength remained firm in global markets as the currency hovered near a 10-day high, supported by modest weekly gains following recent declines. The dollar index climbed to 98.644, its highest level since April 13, reflecting renewed investor confidence.
The US dollar strength comes after a period of softness, with the currency now on track for a weekly gain of around 0.4 per cent. Currency markets showed mixed performance, with the euro trading at US$1.1712 after hitting its lowest level in over a week, while the pound sterling held steady at US$1.3497.
In the Asia-Pacific region, the Australian dollar stood at US$0.7165 and the New Zealand dollar at US$0.59045. Meanwhile, the US dollar edged slightly lower against the Japanese yen, slipping 0.02 per cent to 159.48 yen.
Alongside the US dollar strength, oil markets saw a slight pullback following strong gains in the previous session. Brent crude futures fell by 15 cents to US$101.76 per barrel, after crossing the US$100 mark for the first time in more than two weeks.
US West Texas Intermediate crude also declined, dropping 14 cents to US$92.82 per barrel. Despite the dip, oil prices remain supported by broader market trends and recent upward momentum.
Analysts say the US dollar strength and oil price movements reflect ongoing market adjustments, as traders respond to economic signals, currency fluctuations and global demand expectations.
